IT heavyweights Tata Consultancy Services (TCS) and Infosys recorded the most gains in market valuation among the Top 10 companies in the country last week. The saw a record rally in Indian equities with the 30-stock BSE benchmark Sensex soaring 1.21 per cent.
Eight of the companies in the Top 10 saw an addtion of Rs 1,83,290.36 crore in market valuation. TCS, the second largest company in the country after Reliance Industries, saw a surge of Rs 38,894.44 crore in market capital to reach Rs 14,51,739.53 crore, making it the biggest gainer among Top 10 firms last week.
This was followed by Infosys, which saw its market valuation climbing by Rs 33,320.03 crore to a total capital of Rs 6,83,922.13 crore.
The bellwether stock, Mukesh Ambani-owned Reliance Industries, leaping by Rs 32,611.36 crore to a market capital of Rs 21,51,562.56 crore. The second largest private lender in the country, ICICI Bank, jumped Rs 23,676.78 crore to Rs 8,67,878.66 crore.
Life Insurance Corporation of India (LIC) zoomed Rs 16,950.99 crore to gain a valuation of Rs 6,42,524.89 crore while the market cap of Hindustan Unilever advanced by Rs 16,917.06 crore to Rs 5,98,487.89 crore.
ITC market valuation increased by Rs 10,924.13 crore to Rs 5,41,399.95 crore and State Bank of India saw a rise of Rs 9,995.57 crore in its market cap to Rs 7,67,561.25 crore.
HDFC Bank, Bharti Airtel lose market capital
The two firms in the Top 10 basket that saw their market capital eroding were India's largest private lender HDFC Bank and telecom major Bharti Airtel. The mcap of HDFC Bank dropped by Rs 26,970.79 crore to Rs 12,53,894.64 crore while Airtel slumped by Rs 8,735.49 crore to Rs 8,13,794.86 crore.
Reliance Industries retained numero uno position as the most valued Indian firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
The market capital of Bombay Stock Exchange-listed firms hit an all-time high of Rs 4,49,88,985.87 crore on Friday. In June, Sensex recorded the best monthly gain by surging 7.14 per cent.
