Market capitalisation of 7 of top-10 most valued firms jump ₹1.72 lakh crore; TCS leads the pack

Last week witnessed a significant surge in the combined market valuation of seven of the top-10 most valued firms, amounting to an increase of ₹1,72,225.62 crore. Leading the charge was IT giant Tata Consultancy Services (TCS), benefiting from a bullish equity market.

During the week, the BSE benchmark rose by 522.74 points, marking a 0.65% increase. The 30-share BSE Sensex climbed 622 points, or 0.78%, reaching a record closing level of 80,519.34 on Friday. In intraday trading, it peaked at 80,893.51, surging by 996.17 points or 1.24 per cent.

Also Read | Sebi designates BSE as supervisory body for investment advisers

TCS saw its market capitalization (mcap) surge by ₹62,393.92 crore to ₹15,14,133.45 crore after its shares jumped nearly 7 per cent on Friday, following a robust 8.7 per cent growth in net profit to ₹12,040 crore for the June quarter.

ITC added ₹31,858.83 crore, bringing its valuation to ₹5,73,258.78 crore. Infosys' mcap increased by ₹26,905.14 crore to ₹7,10,827.27 crore, while Life Insurance Corporation of India (LIC) saw a jump of ₹22,422.12 crore, reaching ₹6,64,947.01 crore.

Hindustan Unilever's market valuation surged by ₹17,668.92 crore to ₹6,16,156.81 crore, and Reliance Industries gained ₹9,066.19 crore, reaching ₹21,60,628.75 crore. Bharti Airtel's mcap climbed by ₹1,910.5 crore to ₹8,15,705.36 crore.

Also Read | Dharmesh Shah recommends these two stocks to buy on July 15

However, HDFC Bank saw a decline in valuation by ₹18,069.29 crore to ₹12,35,825.35 crore. Similarly, State Bank of India's mcap diminished by ₹356.99 crore to ₹7,67,204.26 crore, and ICICI Bank declined by ₹210.5 crore to ₹8,67,668.16 crore.

Reliance Industries retained its position as the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever, and ITC.