Eight of the 10 most valued Indian firms together added Rs 1.69 lakh crore (Rs 1.69 trillion) in market capitalisation last week, led by Tata Consultancy Services (TCS) and SBI.
A strong broader market drove the market capitalisation (m-cap) of the eight blue-chip firms, including ICICI Bank, HDFC and RIL, higher by Rs 1,69,865.11 crore (Rs 1698.65 billion) for the week ended Friday. Last week, the Sensex surged 1,662.34 points or 5 per cent to close at 35,011.65.
TCS, the most valued Indian firm, witnessed its market valuation soar by Rs 41,351.28 crore (Rs 413.51 billion) to Rs 7,16,630.43 crore (Rs 7166.30 billion).
The market cap of State Bank of India (SBI) zoomed Rs 33,333.33 crore (Rs 333.33 billion) to Rs 2,54,752.35 crore (Rs 2547.52 billion).
ICICI Bank's valuation advanced by Rs 25,271.12 crore (Rs 252.71 billion) to Rs 2,28,030.59 crore (Rs 2280.31 billion) and that of HDFC rose sharply by Rs 20,763.9 crore (Rs 207.63 billion) to Rs 3,12,970.02 crore (Rs 3129.70 billion)
The m-cap of Reliance Industries Ltd (RIL) surged Rs 18,730.2 crore (Rs 187.30 billion) to Rs 6,80,910.61 crore (Rs 6809.11 billion) and that of Hindustan Unilever Ltd (HUL) jumped Rs 15,834.4 crore (Rs 158.34 billion) to Rs 3,53,617.05 crore (Rs 3536.17 billion).
Infosys added Rs 12,471.8 crore (Rs 124.72 billion) to reach Rs 2,89,209.72 crore (Rs 2892.10 billion) in valuation and ITC gained Rs 2,109.1 crore (Rs 21.09 billion) to stand at Rs 3,45,701.22 crore (Rs 3457.01 billion).
On the other hand, Kotak Mahindra Bank's m-cap declined Rs 4,910.8 crore (Rs 49.11 billion) to Rs 2,16,133.97 crore (Rs 2161.34 billion) and that of HDFC Bank fell by Rs 4,171.8 crore (Rs 41.72 billion) to Rs 5,29,122.57 crore (Rs 5291.23 billion).
In the ranking of the top-10 firms, TCS held on to the number one spot, followed by RIL, HDFC Bank, HUL, ITC, HDFC, Infosys, SBI, ICICI Bank and Kotak Mahindra Bank.