Five of India’s top-10 most valued firms add ₹1.54 lakh crore in market capitalisation; TCS biggest winner

The combined market valuation of five of the top-10 most valued firms jumped ₹1.54 lakh crore last week, with IT major TCS emerging as the biggest winner, in line with a positive trend in equities.

Last week, the BSE benchmark SENSEX climbed 582.06 points, or 0.75%, and the NSE NIFTY went up by 127.4 points, or 0.52%.

While Reliance Industries, ICICI Bank, State Bank of India, Tata Consultancy Services (TCS) and Bajaj Finance emerged as the gainers, HDFC Bank, Bharti Airtel, Life Insurance Corporation of India (LIC), Larsen & Toubro and Hindustan Unilever faced erosion from their valuation.

TCS added ₹72,072.3 crore, taking its market valuation to ₹8,20,672.70 crore.

The country's largest IT services company reported a 4.61% increase in its June-quarter net profit to ₹13,349 crore, and guided towards an improvement in demand, impacted by the West Asia crisis, returning in the ongoing quarter.

ICICI Bank's valuation surged ₹29,062.06 crore to ₹10,34,441.77 crore, and that of Reliance Industries jumped ₹23,884.93 crore to ₹17,95,091.26 crore.

The valuation of Bajaj Finance climbed ₹21,946.5 crore to ₹ 6,57,274.28 crore, and that of State Bank of India went up by ₹7,338.34 crore to ₹ 9,63,768.78 crore.

However, the market capitalisation (mcap) of Larsen & Toubro eroded by ₹18,097.72 crore to ₹5,24,840.68 crore.

The valuation of LIC declined by ₹12,080.75 crore to ₹5,48,124.30 crore.

Bharti Airtel's mcap tumbled ₹ 7,706.45 crore to ₹ 11,91,067.77 crore, and that of HDFC Bank edged lower by ₹ 7,084.61 crore to ₹ 12,62,369.81 crore.

The mcap of Hindustan Unilever dipped ₹1,221.79 crore to ₹5,03,775.86 crore.

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

Top NIFTY50 gainers and losers last week

The top winners in the NIFTY50 pack during the week were TCS (9.7%), Tech Mahindra (8.1%), Bajaj Finance (3.5%), HCL Technologies (3.4%) and Kotak Mahindra Bank (3.3%).

On the other hand, the top losers included Larsen & Toubro (L&T) (-3.3%), Bajaj Finserv (-3.2%), Grasim Industries (-3.2%), Tata Steel (-2.8%), and Dr.Reddy's Laboratories (-2.7%).