Private banking stocks among the Top 10 most valued companies performed well last with HDFC Bank and ICICI Bank emerging as the largest gainers. Along with tech giant Infosys, these companies surged by Rs 1.06 lakh crore in a week that was shortened due holiday on Monday.
The remaining companies in the list, including Reliance Industries, Tata Consultancy Services (TCS), Bharti Airtel, State Bank of India, Life Insurance Corporation of India (LIC), Hindustan Unilever and ITC saw their valuation eroding by Rs 1.01 lakh crore.
HDFC Bank zoomed by Rs 52,091.56 crore taking its valuation to Rs 12.67 lakh crore while the market cap of ICICI Bank leaping Rs 36,118.99 crore to Rs 8.13 lakh crore and that of Infosys jumping Rs 17,915.43 crore to Rs 6,35,945.80 crore.
Reliance Industries, the most valued Indian company, saw it market capitalisation slide by Rs 32,271.31 crore to Rs 19.66 lakh crore. LIC's valuation dropped by Rs 27,260.74 crore to Rs 6.47 lakh crore.
The market cap of ITC plunged by Rs 14,357.43 crore to Rs 5.23 lakh crore while Hindustan Unilever saw its valuation dip by Rs 8,904.95 crore to Rs 5.73 lakh crore.
IT major TCS tumbled by Rs 8,321.6 crore to Rs 13.78 lakh crore while telecom giant Bharti Airtel lost its value by Rs 7,261.72 crore to Rs 8.04 lakh crore. SBI, the largest public sector lender, plummeted by Rs 3,391.35 crore to Rs 7.46 lakh crore.
When it comes to market valuation, the top position continues to be held by Mukesh Ambani-owned Reliance Industries. It followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, LIC, Infosys, Hindustan Unilever and ITC.
