Market Cap of 7 of Top 10 Firms Soars by ₹1.72 Lakh Crore; TCS Leads the Surge | Stock Market News
The market valuation of seven out of the top ten most valuable firms surged by ₹1,72,225.62 crore last week, driven by a strong equity market. Tata Consultancy Services (TCS) led the growth.
The BSE benchmark index rose by 522.74 points, or 0.65%, over the week. The 30-share BSE Sensex increased by 622 points, or 0.78%, to close at a record high of 80,519.34 on Friday. During intraday trading, it reached a peak of 80,893.51, up by 996.17 points or 1.24%.
Key Gains:
- TCS: Market cap rose by ₹62,393.92 crore to ₹15,14,133.45 crore, with shares jumping nearly 7% on Friday after an 8.7% increase in net profit to ₹12,040 crore for the June quarter.
- ITC: Added ₹31,858.83 crore, reaching ₹5,73,258.78 crore.
- Infosys: Gained ₹26,905.14 crore, bringing its valuation to ₹7,10,827.27 crore.
- LIC: Increased by ₹22,422.12 crore, reaching ₹6,64,947.01 crore.
- Hindustan Unilever: Rose by ₹17,668.92 crore to ₹6,16,156.81 crore.
- Reliance Industries: Up by ₹9,066.19 crore, reaching ₹21,60,628.75 crore.
- Bharti Airtel: Increased by ₹1,910.5 crore to ₹8,15,705.36 crore.
Declines:
- HDFC Bank: Market cap fell by ₹18,069.29 crore to ₹12,35,825.35 crore.
- State Bank of India: Decreased by ₹356.99 crore to ₹7,67,204.26 crore.
- ICICI Bank: Down by ₹210.5 crore to ₹8,67,668.16 crore.
Reliance Industries remained the most valuable firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever, and ITC.
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