Market cap of three of top-10 most valued firms jumps Rs 1.06 lakh cr; HDFC Bank, ICICI Bank lead

In the holiday-shortened week, the combined market valuation of three of India's top ten most valuable companies increased by Rs 1,06,125.98 crore, with HDFC Bank and ICICI Bank emerging as the biggest gainers. During the same period, the BSE benchmark Sensex rose by 217.13 points or 0.28 percent.

HDFC Bank, ICICI Bank, and Infosys saw notable gains among the top ten firms, while Reliance Industries, Tata Consultancy Services (TCS), Bharti Airtel, State Bank of India, Life Insurance Corporation of India (LIC), Hindustan Unilever, and ITC faced a collective loss of Rs 1,01,769.1 crore in market capitalisation.

HDFC Bank's market capitalisation soared by Rs 52,091.56 crore to reach Rs 12,67,056.69 crore. ICICI Bank's valuation increased by Rs 36,118.99 crore, bringing it to Rs 8,13,914.89 crore. Infosys' market cap rose by Rs 17,915.43 crore, totaling Rs 6,35,945.80 crore.

Conversely, Reliance Industries saw its market valuation fall by Rs 32,271.31 crore to Rs 19,66,686.57 crore. LIC's valuation decreased by Rs 27,260.74 crore, ending at Rs 6,47,616.51 crore. ITC's market capitalization declined by Rs 14,357.43 crore to Rs 5,23,858.91 crore, while Hindustan Unilever's fell by Rs 8,904.95 crore to Rs 5,73,617.46 crore. TCS's market cap dropped by Rs 8,321.6 crore to Rs 13,78,111.45 crore, and Bharti Airtel's valuation diminished by Rs 7,261.72 crore to Rs 8,04,262.65 crore. State Bank of India's market capitalisation decreased by Rs 3,391.35 crore to Rs 7,46,454.54 crore.

In terms of rankings, Reliance Industries retained its position as the most valuable company, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, LIC, Infosys, Hindustan Unilever, and ITC.

What is market capitalisation? 

Market capitalisation or 'market cap' is a measure used to evaluate the total value of a publicly traded company. It is calculated by multiplying the current share price of the company by the total number of outstanding shares.

In essence, market capitalisation represents the theoretical value of a company according to the stock market. 

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