Life Insurance Corporation (LIC) of India and Infosys extended the previous week's railly to become the biggest gainers among Top 10 companies this week.
Marked by the Union Budget, the previous week saw Sensex and Nifty losing the record gains after the government proposed hike of securities transaction tax on futures & options. However, the indices were able to recover on Friday before the equity markets closed.
Despite PSUs losing their pre-Budget momentum, the Life Insurance Corporation of India (LIC) soared by Rs 44,907.49 crore to Rs 7,46,602.73 crore. The previous week's gain was Rs 36,748.23 crore.
Infosys, the second larged IT giant in the country, leaped by 35,665.92 crore to record a market cap of Rs 7,80,062.35 crore. The other IT giant, TCS, which is the second largest company after Reliance Industries, jumped Rs 30,826.1 crore to Rs 15,87,598.71 crore.
Cigarette-to-hotel conglomerate ITC zoomed by Rs 35,363.32 crore to Rs 6,28,042.62 crore while telecom giant Bharti Airtel climbed Rs 30,282.99 crore to reach a market capital of Rs 8,62,211.38 crore.
The largest lender in the country, HDFC Bank, saw it mcap increasing by Rs 8,140.69 crore to touch a valuation of Rs 12,30,842.03 crore.
The six companies that increased their market capital last week saw their combined valuation soaring by Rs 1,85,186.51 crore.
Reliance continues to slump
The market cap of the country's largest firm, Reliance Industries, tanked by Rs 62,008.68 crore to Rs 20,41,821.06 crore.
ICICI Bank, the second largest private lender, and the State Bank of India, the largest public lender, also saw their market valuation eroding. ICICI Bank plunged by Rs 28,511.07 crore to Rs 8,50,020.53 crore while SBI tumbled by Rs 23,427.1 crore to Rs 7,70,149.39 crore.
The valuation of Hindustan Unilever plummeted by Rs 3,500.89 crore to Rs 6,37,150.41 crore.
Going by market valuation, Reliance Industries is still the most valued company in the country. It is followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, LIC, Hindustan Unilever and ITC.