Market cap of 4 of India's top firms jumps ₹1 lakh crore; biggest gainer is…

The combined market valuation of four of the top-10 most valued firms jumped ₹1,01,369.5 crore last week. With this, Life Insurance Corporation of India (LIC) emerged as the biggest gainer, despite the otherwise sluggish trend in equities. Meanwhile, last week the BSE benchmark declined 270.07 points or 0.33 per cent.

Some companies gained addition to their market valuation, while other companies including Reliance Industries Ltd, Tata Consultancy Services faced a erosion in Mcap.(Pixabay/ Representational Image)

Some companies, including HDFC Bank, Bharti Airtel, State Bank of India and LIC gained an addition to their market valuation. While companies including Reliance Industries Ltd, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Bajaj Finance and Hindustan Unilever Ltd faced a combined erosion of ₹34,852.35 crore.

Firms with addition to market valuation

Among the top-10 firms, LIC’s market valuation surged the most, from ₹59,233.61 crore to ₹6,03,120.16 crore. The State Bank of India added ₹19,589.54 crore to ₹7,25,036.13 crore in its valuation. The market capitalisation (MCAP) of Bharti Airtel jumped ₹14,084.2 crore to ₹10,58,766.92 crore, and HDFC Bank saw a jump of ₹8,462.15 crore to ₹14,89,185.62 crore.

Firms with erosion of market valuation

Among the firms that faced erosion of market valuation was TCS, whose MCAP tumbled ₹17,909.53 crore to ₹12,53,486.42 crore. The valuation of Reliance Industries tanked ₹7,645.85 crore to ₹19,22,693.71 crore. Bajaj Finance saw a drop from ₹4,061.05 crore to ₹5,70,146.49 crore in its MCAP, and that of ICICI Bank declined by ₹2,605.81 crore to ₹10,31,262.20 crore. The valuation of Hindustan Unilever Ltd diminished by ₹1,973.66 crore to ₹5,52,001.22 crore and that of Infosys dived ₹656.45 crore to ₹6,49,220.46 crore.

In terms of the most valued firms, Reliance Industries remained on the top, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.

(With PTI Inputs)