HDFC adds ₹77,000 crore to its mcap, biggest gainer among top 10 valued firms

The market valuation of LIC, TCS, and SBI, also increased, by ₹49,200 crore, ₹35,000 crore, and ₹10,500 crore, respectively.

Published on: Apr 7, 2024, 13:23:36 IST

By HT News Desk, New Delhi

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The market valuation of four of the country's top 10 valued firms rose by over ₹171 lakh crore, with HDFC Bank and Life Insurance Corporation (LIC) of India emerging as the two top gainers.

HDFC Bank added ₹76,880.74 crore to take its market valuation to ₹11,77,065.34 crore (PTI)

The six remaining companies from the top 10 pack, on the other hand, suffered a hit of more than ₹78,000 crore to their market valuation.

The gainers

HDFC Bank's market valuation jumped ₹76,880.74 crore to ₹11,77,065.34 crore, becoming the biggest gainer among the four. LIC is now at ₹6,27,692.77 crore, an increase of ₹49,208.48 crore.

Tata Consultancy Services (TCS) was next, adding ₹34,733.64 crore to take its market capitalisation (mcap) to ₹14,39,836.02 crore. The State Bank of India (SBI) now stands at an mcap of ₹6,82,152.71 crore, a gain of ₹10,486.42 crore.

Together, the quartet added ₹1,71, 309.28 crore.

The losers

On the opposite end, Reliance Industries Limited (RIL) was the biggest loser, with its market valuation tanking to ₹19,75,547.68 crore, a loss of ₹38,462.95 crore. The mcap of Bharti Airtel and ICICI Bank eroded by ₹21,206.58 crore to ₹6,73,831.90 crore, and ₹9458.25 crore to ₹7,60,084.40 crore, respectively.

The mcap of Infosys, ITC, and Hindustan Unilever, slumped to ₹6,14,120.84 crore, ₹5,34,158.81 crore, and ₹5,32,816.81 crore, respectively. This represents a loss to the tune of ₹7996.54 crore (Infosys), ₹873.93 crore (ITC) and ₹129.93 crore (Hindustan Unilever).

Together, the six firms suffered losses worth ₹78,127.48 crore.

Overall, however, Reliance remains the most valued company, followed by TCS, HDFC Bank, ICICI Bank, SBI, Bharti Airtel, LIC, Infosys, ITC, and Hindustan Unilever, in that order.

(With PTI inputs)

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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