Market cap of India’s top 8 companies surges ₹1.21L crore

• India’s top eight companies saw a massive surge in their market cap last week, with a combined increase of ₹1.21 lakh crore.

• Leading the pack was Reliance Industries, whose market value soared by ₹53,652.92 crore, followed by the State Bank of India with a rise of ₹18,518.57 crore.

• However, not all companies enjoyed growth, as ICICI Bank and Hindustan Unilever experienced a drop in their market cap.

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Reliance Industries emerged as the biggest gainer

What’s the story

The combined market capitalization of eight out of the top 10 most valued firms in India, saw a significant surge last week.

The total rise was ₹1,21,270.83 crore, with Reliance Industries emerging as the biggest gainer.

This increase aligns with an exceptional rally in benchmark equity indices.

BSE benchmark Sensex jumped 1,027.54 points or 1.21% to a record high of 85,978.25 on Friday.

Reliance Industries leads with significant jump

Reliance Industries was on fire, seeing its market valuation soar by ₹53,652.92 crore, hitting an impressive ₹20,65,197.60 crore.

The State Bank of India (SBI) didn’t lag behind either, witnessing a hefty rise of ₹18,518.57 crore, bringing its total to ₹7,16,333.98 crore.

These big boosts played a major role in the overall surge in the market cap of the top players last week.

Bharti Airtel and ITC contribute to market cap surge

Bharti Airtel’s market valuation took a big leap, jumping by ₹13,094.52 crore to hit a total of ₹9,87,904.63 crore. Meanwhile, ITC’s market value grew by ₹9,927.3 crore, reaching ₹6,53,834.72 crore last week.

TCS, HDFC Bank, and LIC witness growth

Tata Consultancy Services (TCS) saw its market cap surge by ₹8,592.96 crore, to a total of ₹15,59,052 crore last week.

HDFC Bank’s valuation climbed up by ₹8,581.64 crore, reaching a total of ₹13,37,186.93 crore during the same period.

Additionally, Life Insurance Corporation of India (LIC) experienced a significant increase in its market cap by ₹8,443.87 crore, to hit a total of ₹6,47,616.51 crore last week.

ICICI Bank and HUL stumble

Infosys added to the overall market cap boost with a small rise of ₹459.05 crore, pushing its total valuation to ₹7,91,897.44 crore last week.

But it wasn’t all sunshine for the top firms, as ICICI Bank’s market value fell by ₹23,706.16 crore to ₹9,20,520.72 crore.

Hindustan Unilever’s (HUL) market cap also dropped by ₹3,195.44 crore, settling at ₹6,96,888.77 crore last week.

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