LIC, 4 other firms market cap jumps by Rs 85,582 crore in a week
Despite the mixed performance, RIL maintained its position as the most valued firm among the top-10 companies, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, LIC, Infosys, Hindustan Unilever, and ITC.
In a week marked by positive trends in equities, five of India's top-10 most valued firms collectively added Rs 85,582.21 crore to their market valuation, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer. The BSE benchmark Sensex rose 299.41 points, or 0.39 per cent, closing at an all-time high of 77,145.46 on June 13.
Gainers:
1. LIC: The market capitalisation (mcap) of LIC surged by Rs 46,425.48 crore, reaching Rs 6,74,877.25 crore.
2. HDFC Bank: Added Rs 18,639.61 crore to its valuation, taking it to Rs 12,14,965.13 crore.
3. Reliance Industries (RIL): Gained Rs 10,216.41 crore, with a valuation of Rs 19,98,957.88 crore.
4. State Bank of India (SBI): Increased by Rs 9,192.35 crore, reaching Rs 7,49,845.89 crore.
5. Bharti Airtel: Saw an increase of Rs 1,108.36 crore, bringing its valuation to Rs 8,11,524.37 crore.
Losers:
1. Hindustan Unilever: Its valuation dropped by Rs 22,885.02 crore, down to Rs 5,82,522.41 crore.
2. Tata Consultancy Services (TCS): Experienced a decline of Rs 22,052.24 crore, reducing its mcap to Rs 13,86,433.05 crore.
3. Infosys: Eroded by Rs 18,600.5 crore, with a new valuation of Rs 6,18,030.37 crore.
4. ICICI Bank: Lost Rs 11,179.27 crore, bringing its valuation to Rs 7,77,795.90 crore.
5. ITC: Decreased by Rs 9,987.78 crore, with an mcap of Rs 5,38,216.34 crore.
Despite the mixed performance, RIL maintained its position as the most valued firm among the top-10 companies, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, 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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