India’s top 10 companies’ valuation jumps by over 2.7 lakh crore: 10 Points
The valuation of the top 10 Indian companies by market capitalisation jumped by over 2.7 lakh crore this week; tracking buoyed domestic bourses and an increase in risk appetite globally. Here Is Your 10-Point Cheatsheet To This Big Story:Domestic indices made substantial gains in the holiday-truncated week, with trading shut on Friday on account of the Holi festival. The 30-share BSE Sensex rose over 4 per cent, while the NSE Nifty advanced nearly 4 per cent.Reflecting the bullish trend in the broader market, the combined market capitalisation (m-cap) of the country’s top-10 firms zoomed by Rs 2,72,184.67 crore this week.Corporate major Reliance Industries’ m-cap swelled by Rs 54,904.27 crore to Rs 16,77,447.33 crore.Information Technology bellwethers TCS and Infosys Technologies added Rs 41,058.98 crore to their market valuations.The market valuation of Tata Consultancy Services (TCS) climbed Rs 27,557.93 crore to Rs 13,59,475.36 crore, while the valuation of Infosys jumped Rs 13,501.05 crore to reach Rs 7,79,948.32 crore.The country’s top lenders, HDFC Bank, ICICI Bank and the SBI, saw a sharp jump in their market valuations. HDFC Bank’s valuation rose by Rs 46,283.99 crore to Rs 8,20,747.17 crore.The m-cap of State Bank of India (SBI) climbed by Rs 27,978.65 crore to Rs 4,47,792.38 crore and that of ICICI Bank advanced by Rs 29,127.31 crore to reach Rs 5,00,174.83 crore.The valuation of Hindustan Unilever Ltd (HUL) surged by Rs 1,703.45 crore to Rs 4,93,907.58 crore, and Bajaj Finance increased by Rs 22,311.87 crore to Rs 4,22,325.91 crore.HDFC’s valuation rose by Rs 33,438.47 crore to Rs 4,37,859.67 crore.Telecom major Bharti airtel also witnessed a rise of Rs 15,377.68 crore to its market valuation, which stood at Rs 3,96,963.73 crore.In the ranking of top-10 firms, Reliance Industries was leading the chart, followed by Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC, Bajaj Finance and Bharti Airtel.
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