Seven of India’s top 10 most valued companies boosted their market capitalization by ₹1.28 lakh crore recently. Reliance Industries and Bharti Airtel led the gains, followed by HDFC Bank, TCS, SBI, Infosys, and Hindustan Unilever. Bajaj Finance, LIC, and ICICI Bank saw declines in market value.
The market capitalization of seven out of the top 10 most valued firms in India surged by a massive ₹1.28 lakh crore during the past week, showcasing robust investor confidence and a strong stock market performance. At the forefront of this rally were Reliance Industries and Bharti Airtel, which witnessed substantial jumps in their valuations. Reliance Industries reclaimed its position as the most valuable company in India, with its market cap climbing swiftly to ₹20.92 lakh crore.
Bharti Airtel also played a critical role in this surge, with its valuation rising to ₹12.33 lakh crore. Besides these two giants, major financial and IT players like HDFC Bank, Tata Consultancy Services, State Bank of India, Infosys, and Hindustan Unilever contributed to the overall market capitalization gain. Conversely, Bajaj Finance, LIC, and ICICI Bank saw their market caps shrink within the same period.
Key Highlights
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Seven of India’s top 10 most valued companies collectively added ₹1.28 lakh crore to their market capitalization last week.
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Reliance Industries saw the highest jump, with market cap increasing by ₹36,673 crore to ₹20.92 lakh crore.
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Bharti Airtel closely followed, gaining ₹36,579 crore, reaching ₹12.33 lakh crore in valuation.
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Other gainers included HDFC Bank, Tata Consultancy Services (TCS), State Bank of India, Infosys, and Hindustan Unilever.
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Bajaj Finance, Life Insurance Corporation of India (LIC), and ICICI Bank experienced a decline in their market valuations.
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The surge aligned with a positive equity market trend, reflecting optimism among investors.
This upward movement was largely fueled by broader positive market sentiments, reflected in gains across benchmark indices, encouraging investor participation and portfolio allocations into these blue-chip firms. This capital expansion underlines strong fundamentals and growth prospects in India’s largest companies, enhancing their weight in the equity markets.
Sources: NSE Circular, CNBC TV18, Economic Times, Business Standard, Outlook Business.