Market cap of 9 out of top 10 Indian firms grew Rs 2.15 lakh crore, Bharti Airtel jumped the most
News Topical, Digital Desk : The market capitalisation of nine of India's 10 most valuable firms climbed by 2.15 lakh crore. Telecom giant Bharti Airtel recorded the highest gain of 52,432.67 crore. Last week, the benchmark Sensex gained 1,274.95 points or 1.68%. The only company in the top 10 to shed value was Tata Consultancy Services (TCS).
The rally in the Indian stock market last week bolstered the fortunes of the country's largest firms. Nine of the top 10 companies saw their combined market cap swell by a substantial Rs 2.15 lakh crore. Telecom operator Bharti Airtel emerged as the top gainer, its valuation surging by Rs 52,432.67 crore.
The values of LIC, Bajaj Finance, Reliance Industries, Larsen & Toubro, State Bank of India (SBI), HDFC Bank, Hindustan Unilever and ICICI Bank also rose during this period.
The market cap of only one company, TCS, declined.
Sensex Rising
The BSE Sensex gained 1,274.95 points, or 1.68%, last week. “Indian stocks continued its recovery mode as geopolitical tensions have eased and softer crude oil prices boosted global risk sentiment. It's too soon as agreements are under negotiations and aren't fully effective but improved geopolitical risk is the key factor,” said Ponmudi R, Chief Investment Officer of Enrich Money.
Market Cap Increased of These Companies
* Bharti Airtel: Added ₹52,432.67 crore in market valuation, taking its market cap to ₹11,62,963.30 crore, the highest jump among the top 10 companies.
* Life Insurance Corporation of India (LIC): Saw a rise of ₹51,675.23 crore in its valuation to ₹5,56,726.30 crore.
* Bajaj Finance: Increased by ₹26,553.71 crore to reach ₹5,98,501.25 crore.
* Reliance Industries: Gained ₹22,464.02 crore, with its market cap standing at ₹17,71,882.96 crore.
* Larsen & Toubro: Saw a gain of ₹21,929.12 crore, taking its market value to ₹5,79,126.95 crore.
* State Bank of India (SBI): Rose by ₹16,753.57 crore to ₹9,55,415.07 crore.
* HDFC Bank: Increased by ₹11,948.72 crore to reach a valuation of ₹12,01,263.14 crore.
* Hindustan Unilever: Added ₹6,661.10 crore, and its market cap climbed to ₹5,15,946.75 crore.
* ICICI Bank: Saw an addition of ₹4,724.22 crore to its valuation, reaching ₹9,66,021.99 crore.
TCS Market Cap Declined
* Tata Consultancy Services (TCS): Saw its market value shed ₹12,699.49 crore to ₹7,69,350.13 crore during this period. As per the report, RIL remains the most valuable domestic firm in the ranking followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, L&T, LIC and HUL.
