The combined market valuation of seven of India’s top 10 most valued companies rose by INR 2.16 lakh crore last week, led by strong gains in Bharti Airtel
MUMBAUI — The combined market valuation of seven of India’s top 10 most valued companies rose by INR 2.16 lakh crore last week, led by strong gains in Bharti Airtel and other heavyweight stocks.
The rise came in line with a positive trend in the broader market, as the BSE Sensex jumped 1,451.37 points, or 1.75 per cent, during the week.
Among the top 10 firms, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, and Hindustan Unilever posted gains in their market capitalisation.
However, Tata Consultancy Services (TCS), Infosys, and Life Insurance Corporation of India (LIC) saw a decline in their valuations.
Bharti Airtel recorded strong gains, adding INR 41,254.73 crore to reach a valuation of INR 11.47 lakh crore.
ICICI Bank’s market capitalisation surged by INR 40,123.88 crore to INR 10,26,491.35 crore, while HDFC Bank added INR 33,185.59 crore, taking its valuation to INR 15,40,210.78 crore.
Bajaj Finance’s valuation also rose sharply by INR 28,903.45 crore to INR 6,65,899.19 crore.
Hindustan Unilever’s market value increased by INR 17,774.65 crore to INR 6.12 lakh crore, and State Bank of India added INR 7,938.34 crore to reach INR 8.21 lakh crore.
On the losing side, Infosys’ valuation fell by INR 30,306.35 crore to INE 5.99 lakh crore, while TCS slipped INR 23,807.01 crore to INR 10.72 lakh crore.
LIC’s market capitalisation also dipped by INR 7,684.87 crore to INR 5.60 lakh crore.
Among the country’s most valued companies are HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Hindustan Unilever, Infosys, and LIC.
Analysts said the surge in market valuations reflects renewed investor confidence, supported by strong corporate earnings and a bullish sentiment in equities.