IT giant Tata Consultancy Services (TCS) made the most gains among Top 10 companies in the country last week, with its shares soaring around 7 per cent on Friday. Boosted by Q1 results, which reported an 8.9 per cent surge in its net profit during the quarter ended in June, TCS saw its market valuation jump by Rs 62,393.92 crore to touch Rs 15,14,133.45 crore.
The other companies that increased their valuation included ITC, Infosys, Hindustan Unilever, LIC, Reliance Industries and Bharti Airtel. Together, these seven companies saw their market capitalisation climbing by Rs 1,72,225.62 crore last week.
FMCG stocks in Top 10 such as ITC zoomed by Rs 31,858.83 crore to reach a market capital of Rs 5,73,258.78 crore while the valuation of Hindustan Unilever climbed Rs 17,668.92 crore to Rs 6,16,156.81 crore.
Another IT giant in the Top 10 basket, Infosys, leaped by Rs 26,905.14 crore to Rs 7,10,827.27 crore valuation. It is scheduled to announce its quarterly earnings this week. Life Insurance Corporation of India (LIC) rallied Rs 22,422.12 crore to record a market capital of Rs 6,64,947.01 crore.
Mukesh Ambani's Reliance Industries, which will also release its quarterly results this week, surged Rs 9,066.19 crore to Rs 21,60,628.75 crore. Its telecom rival Bharti Airtel also increased its market capitalisation, which by Rs 1,910.5 crore to Rs 8,15,705.36 crore.
The biggest market heavyweight to see its market capital eroding last week was the HDFC Bank, whose valuation dipped by Rs 18,069.29 crore to Rs 12,35,825.35 crore. The largest public lender, State Bank of India, also plunged by Rs 356.99 crore to Rs 7,67,204.26 crore. ICICI Bank, the second largest private lender after HDFC Bank, plummeted by Rs 210.5 crore to Rs 8,67,668.16 crore.
In terms of market valuation, Reliance Industries is the most valued Indian company followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.