The combined market valuation of seven of the top-10 most valued firms in India increased by ₹1,18,328.29 crore last week. This surge was largely driven by an optimistic trend in equities, with the BSE benchmark rising 721.53 points or 0.88 per cent. The biggest gainers were State Bank of India and Bharti Airtel, with their market valuations jumping ₹35,953.25 crore and ₹33,214.77 crore respectively.
The market capitalization of other top firms also saw significant increases. Reliance Industries’ valuation rose by ₹17,389.23 crore to ₹19,04,898.51 crore, while Tata Consultancy Services (TCS) saw a surge of ₹12,952.75 crore to ₹11,46,879.47 crore. Life Insurance Corporation of India (LIC) and Infosys also saw their valuations increase by ₹12,460.25 crore and ₹6,127.73 crore respectively.
However, not all top firms saw an increase in their market valuation. ICICI Bank’s valuation declined by ₹10,707.87 crore to ₹10,01,654.46 crore, while Bajaj Finance and Hindustan Unilever saw their valuations erode by ₹6,346.93 crore and ₹5,039.87 crore respectively.
The top-10 most valued firms in India, in order of their market valuation, are Reliance Industries, HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC. The market valuation of HDFC Bank increased by ₹230.31 crore to ₹14,84,816.26 crore, solidifying its position as the second-most valued firm in India.
Overall, the increase in market valuation of these top firms reflects the positive sentiment in the Indian equity market, driven by a combination of factors including strong economic growth, favorable monetary policies, and improving corporate earnings. As the market continues to trend upwards, it will be interesting to see how these firms perform in the coming weeks and months.