Mcap of 8 most valued firms jumps by INR 1.69 lakh crore amid market rally

NEW DELHI — The combined market value of eight of the country’s top-10 most valuable companies increased by INR 1.69 lakh crore last week, in line with the positive trend on Dalal Street. 

During the week, the BSE benchmark rose by 1,193.94 points, or 1.47 per cent, boosting investor sentiment.

Bajaj Finance turned out to be the biggest gainer among them. Among the top companies, HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys and Bajaj Finance saw growth in their valuations, while Hindustan Unilever and LIC’s market cap eroded during the week.

Bajaj Finance’s market value jumped by INR 40,788.38 crore to reach INR 6.24 lakh crore. Infosys added INR 33,736.83 crore, taking its valuation to INR 6.33 lakh crore.

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Tata Consultancy Services (TCS) gained INR 30,970.83 crore, pushing its market capitalisation to INR 11.33 lakh crore.

State Bank of India’s valuation climbed by INR 15,092.06 crore to INR 7.59 lakh crore, while ICICI Bank’s value rose by INR 10,644.91 crore to INR 10.12 lakh crore.

HDFC Bank saw a smaller rise of INR 6,141.63 crore, taking its valuation to INR 14.84 lakh crore. Bharti Airtel’s market value increased by INR 4,390.62 crore to INR 10.85 lakh crore.

On the other hand, Hindustan Unilever’s market capitalisation fell by INR 12,429.34 crore to INR 6.06 lakh crore, while Life Insurance Corporation of India (LIC) lost INR 1,454.75 crore, slipping to INR 5.53 lakh crore.

At the end of the week, HDFC Bank remained among the most valued company, followed by TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and LIC.

Meanwhile, the combined market valuation of seven of the top 10 most valued firms jumped INR 1,06,250.95 crore for the week ended September 7.