Eight of India’s top-10 most valued firms add ₹1.94 lakh crore in mcap; TCS top gainer

The combined market valuation of eight of the top 10 most valued firms jumped by ₹1,94,148.73 crore last week, with TCS emerging as the biggest gainer, in line with an optimistic trend at Dalal Street.

The equity benchmark indices extended their winning streak for the second week on Friday, October 10. The NIFTY50 surged 391.10 points, or 1.6%, during the week, while the BSE SENSEX added 1,293.65 points, or 1.6%.

While Reliance Industries, HDFC Bank, Bharti Airtel, Tata Consultancy Services (TCS), ICICI Bank, State Bank of India, Bajaj Finance and Infosys were the gainers from the top-10 pack, Hindustan Unilever and Life Insurance Corporation of India (LIC) faced erosion from their market valuation.

TCS added ₹45,678.35 crore, taking its market valuation to ₹10,95,701.62 crore.

The valuation of Infosys jumped ₹28,125.29 crore to ₹6,29,080.22 crore, and that of HDFC Bank surged ₹25,135.62 crore to ₹15,07,025.19 crore.

Bharti Airtel's market valuation zoomed from ₹25,089.27 crore to ₹11,05,980.35 crore.

The market capitalisation (mcap) of Reliance Industries climbed ₹25,035.08 crore to ₹18,70,120.06 crore.

The mcap of Bajaj Finance rallied ₹21,187.56 crore to ₹6,36,995.74 crore, and that of State Bank of India edged higher by ₹12,645.94 crore to ₹8,12,986.64 crore.

The valuation of ICICI Bank went up by ₹11,251.62 crore to ₹9,86,367.47 crore.

However, the mcap of LIC eroded by ₹4,648.88 crore to ₹5,67,858.29 crore.

The valuation of Hindustan Unilever declined by ₹3,571.37 crore to ₹5,94,235.13 crore.

Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, Hindustan Unilever and LIC.

On Friday, the S&P BSE SENSEX closed at the 82,500.82 level, rising 328.72 points, or 0.40%, while the 50-share index NIFTY50 closed at the 25,285.35 level, gaining 103.55 points, or 0.41%.

On the NIFTY50 index, Max Healthcare emerged as the top gainer of the week, climbing 8.2%. HCL Technologies and Eternal were also among the main contributors, gaining 7.3% and 6%, respectively. Infosys (4.7%) and Tata Consultancy Services (4.4%) also added strong momentum to the index.

On the flip side, Tata Motors (-5.2%), Trent (-2.6%), HDFC Life Insurance Company (-1.6%), Tata Consumer Products (-1%), and Hindalco Industries (-0.8%) ended as the week’s biggest losers.