HDFC Bank, LIC emerge as big gainers as four of the top 10 valued firms add ₹1.71 lakh cr to m-cap
The Hindu
Top 10 firms in India see market valuation changes, with HDFC Bank and LIC gaining, while Reliance Industries faces losses.
Four of the top 10 valued firms added ₹1,71,309.28 crore to their market valuation last week with HDFC Bank and Life Insurance Corporation of India (LIC) emerging as the biggest gainers in line with an overall positive trend in equities. On the other hand, six companies from the top 10 pack took a ₹78,127.48 crore hit to their market valuation with index major Reliance Industries accounting for the majority of the losses.
Last week, the BSE benchmark climbed 596.87 or 0.81%. It hit an all-time high of 74,501.73 on April 4.
While Tata Consultancy Services (TCS), HDFC Bank, State Bank of India and LIC were the gainers from the top 10 pack, Reliance Industries, ICICI Bank, Bharti Airtel, Infosys, ITC and Hindustan Unilever faced losses in their valuation.
The market valuation of HDFC Bank jumped ₹76,880.74 crore to reach ₹11,77,065.34 crore. LIC added ₹49,208.48 crore, taking its valuation to v6,27,692.77 crore. The market capitalisation (m-cap) of TCS climbed ₹34,733.64 crore to ₹14,39,836.02 crore and that of State Bank of India went up by ₹10,486.42 crore to ₹6,82,152.71 crore.
The valuation of Reliance Industries fell ₹38,462.95 crore to ₹19,75,547.68 crore. The m-cap of Bharti Airtel eroded by ₹21,206.58 crore to ₹6,73,831.90 crore and that of ICICI Bank dived ₹9,458.25 crore to ₹7,60,084.40 crore. The market valuation of Infosys declined by ₹7,996.54 crore to ₹6,14,120.84 crore and that of ITC dipped by ₹873.93 crore to ₹5,34,158.81 crore. The m-cap of Hindustan Unilever decreased by ₹129.23 crore to ₹5,32,816.81 crore.
Reliance Industries remained the most valued domestic firm by market valuation followed by TCS, HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, LIC, Infosys, ITC and Hindustan Unilever.
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