Market cap of 4 of top-10 valued firms jumps over ₹1.15 lakh crore; RIL biggest gainer
Four of the top 10 valued firms added a total ₹1,15,758.53 crore to their combined market valuation last week, helped by Reliance Industries which added ₹71,033.44 crore to its market cap.
The BSE benchmark scaled the 50,000-mark for the first time on Thursday. Last week, the 30-share BSE benchmark dipped 156.13 points or 0.31 per cent. Reliance Industries Limited, Tata Consultancy Services (TCS), Hindustan Unilever Limited and Bajaj Finance witnessed a rally in their market valuation. On the other hand, HDFC Bank, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank and Bharti Airtel suffered cumulative loss of ₹48,941.18 crore in their valuations.
The valuation of Reliance Industries Limited jumped ₹71,033.44 crore to reach ₹12,99,363.47 crore, becoming the biggest gainer.
The market capitalisation of Tata Consultancy Services zoomed ₹26,191.64 crore to ₹12,39,562.76 crore and that of Hindustan Unilever Limited gained ₹13,357.22 crore to ₹5,65,949.36 crore. Bajaj Finance added ₹5,176.23 crore to take its valuation to ₹2,99,332.25 crore.
In contrast, Bharti Airtel's valuation declined ₹13,993.5 crore to ₹3,14,703.83 crore and that of HDFC Bank tanked ₹12,502.38 crore to ₹7,95,112.89 crore. HDFC's mcap dipped ₹7,677.82 crore to ₹4,66,123.79 crore and that of Kotak Mahindra Bank declined ₹6,416.75 crore to ₹3,62,665.26 crore. The valuation of ICICI Bank fell by ₹6,370.02 crore to ₹3,68,375.92 crore and that of Infosys by ₹1,980.71 crore to ₹5,70,976.45 crore.
In the ranking of top-10 firms, Reliance Industries Limited continued to rule the list followed by Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, Bharti Airtel and Bajaj Finance Limited.
Enter your email to get our daily newsletter in your inbox
- ICICI Bank’s move comes days after rival lenders such as State Bank of India (SBI), Kotak Mahindra Bank and Housing Development Finance Corp. Ltd cut their home loan rates.
- These votes will have to be disclosed to unit holders under existing regulations. Voting will be at the MF level (rather than scheme level).
- Supply of vehicles from Maruti Suzuki India Ltd—as part of the alliance with Suzuki Motor Corp—has helped Toyota increase its domestic market share in the premium hatchback and entry-level SUV segment, where it was not present before.
- The top three states by GVA were Maharashtra, Gujarat, and Tamil Nadu. They had a share of 41% in the total GVA. Rural India added nearly as much GVA (49%) as urban India (51%).
- Using average consumption shares to calculate the burden of an indirect tax has a problem.
- Retail buyers continued to purchase gold in India as prices declined to a near one-year low.