The market capitalisation of nine out of the top ten most valued companies in the Indian stock market collectively added ₹2,89,699.42 crore to their market valuation last week, with Reliance Industries emerging as the top gainer. This rise aligns with a broader rally in equities.
The BSE benchmark index saw a notable jump of 1,822.83 points, or 2.36 per cent, over the past week. June marked the best monthly performance for the Sensex, climbing 7.14 per cent and surpassing the historic 79,000 mark on June 27.
Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, Hindustan Unilever, and ITC were among the firms that experienced gains. Conversely, Life Insurance Corporation of India (LIC) was the only one to see a decline in valuation.
Reliance Industries led the pack with its market capitalisation jumping by ₹1,52,264.63 crore, reaching ₹21,18,951.20 crore. TCS followed, adding ₹34,733.64 crore to its valuation, bringing it to ₹14,12,845.09 crore, as per the report.
ICICI Bank’s market cap soared by ₹30,286.99 crore, reaching ₹8,44,201.88 crore, while Bharti Airtel saw an increase of ₹18,267.7 crore, bringing its total valuation to ₹8,22,530.35 crore.
Infosys experienced a climb of ₹14,656.3 crore in market valuation, reaching ₹6,50,602.10 crore. HDFC Bank’s valuation surged by ₹13,808.74 crore, totaling ₹12,80,865.43 crore.
The State Bank of India’s market cap rallied by ₹11,111.14 crore, reaching ₹7,57,565.68 crore. Hindustan Unilever saw its valuation increase by ₹7,953.37 crore to ₹5,81,570.83 crore, and ITC’s market cap climbed by ₹6,616.91 crore, totaling ₹5,30,475.82 crore.
In contrast, LIC’s valuation tumbled by ₹22,042.61 crore, reducing its total to ₹6,25,573.90 crore.
As of the latest standings, Reliance Industries remains the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever, and ITC.