TCS, HUL, eight other firms market cap jumps by Rs 3.28 lakh crore in a week
Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation. The market valuation of TCS zoomed Rs 80,828.08 crore to Rs 14,08,485.29 crore, emerging as the biggest gainer from the pack.
The market saw significant gains in the valuation of India's top domestic firms last week, with blue-chip companies like Tata Consultancy Services (TCS), Hindustan Unilever (HUL), and Reliance Industries (RIL) leading the charge. The BSE benchmark surged by 2,732.05 points or 3.69 per cent, reaching new record highs.
Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation. The market valuation of TCS zoomed Rs 80,828.08 crore to Rs 14,08,485.29 crore, emerging as the biggest gainer from the pack.
Hindustan Unilever added Rs 58,258.11 crore taking its market capitalisation (mcap) to Rs 6,05,407.43 crore.
The valuation of Reliance Industries jumped Rs 54,024.35 crore to Rs 19,88,741.47 crore and that of Infosys rallied by Rs 52,770.59 crore to Rs 6,36,630.87 crore.
The mcap of HDFC Bank soared Rs 32,241.67 crore to Rs 11,96,325.52 crore and that of Bharti Airtel climbed Rs 32,080.61 crore to Rs 8,10,416.01 crore.
ITC's valuation surged Rs 16,167.71 crore to Rs 5,48,204.12 crore and that of ICICI Bank went up by Rs 1,745.46 crore to Rs 7,88,975.17 crore.
Meanwhile, the State Bank of India and Life Insurance Corporation of India (LIC) were the laggards from the top-10 pack.
However, the mcap of LIC declined by Rs 12,080.75 crore to Rs 6,28,451.77 crore and that of State Bank of India went lower by Rs 178.5 crore to Rs 7,40,653.54 crore.
In the ranking of the most valued firms, Reliance Industries retained the title of number one company followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, 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.
(With inputs from agencies.)
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