The country’s 10 most valued firms added over Rs 42,000 crore to their market capitalisation last week, with Reliance Industries accounting for nearly half of the total gain.
Extending their gains for the third straight week, 10 most valued firms on the Bomabay Stock Exchange added Rs 42,300 crore to their valuation last week, taking the total market cap of the club to Rs 11,57,958 crore.
Last week, valuation of the club, comprising four private and six public sector entities, was at Rs 11,15,658 crore.
Corporate behemoth RIL added Rs 18,020 crore to its market cap last week, taking its total valuation to Rs 2,61,644 crore. The valuation of Mukesh Ambani-led RIL was at Rs 2,43,624 crore a week ago.
Amid the broader market witnessing a counter rally in bear market last week, shares of RIL surged over seven per cent to end at Rs 1,662.50 on the Bombay Stock Exchange.
Besides, oil major Oil and Natural Gas Corporation (ONGC) and power utility NTPC added Rs 13,347 crore and Rs 1,360 crore, respectively to their valuation last week.
ONGC, the most valued PSU entity, had a market cap of Rs 1,86,167 crore and NTPC was valued at Rs 1,51,469 crore at the end of trade on Friday.
Despite overall gains in the broader market, two firms in the elite club of top 10 lost a combined Rs 1,535 crore.