M-cap of 6 of top-10 most valued firms surges Rs 1 lakh cr; Airtel, Bajaj Fin top winners
The combined market valuation of 6 of the top-10 most valued firms surged by Rs 1 lakh crore last week, with Bharti Airtel and Bajaj
The combined market valuation of 6 of the top-10 most valued firms surged by Rs 1 lakh crore last week, with Bharti Airtel and Bajaj Finance emerging as the biggest gainers, amid a largely positive trend in equities.Last week, the BSE benchmark Sensex climbed 663.44 points, or 0.86 per cent, and the NSE Nifty rose 214.85 points, or 0.89 per cent.Markets ended the week on a firm footing, supported by resilient domestic macroeconomic indicators, healthy GST collections and improving industrial activity, Ajit Mishra, SVP, Research, Religare Broking Ltd, said."Expectations of a more accommodative global monetary policy following softer-than-expected US labour market data further strengthened investor sentiment," he added.The market valuation of Bharti Airtel jumped Rs 36,529.21 crore to Rs 11,63,877.30 crore, the most among the top-10 firms.Bajaj Finance added Rs 33,059.83 crore, taking its valuation to Rs 6,43,141.36 crore.ICICI Bank's valuation surged Rs 16,084.29 crore to Rs 10,11,695.03 crore, and that of Life Insurance Corporation of India (LIC) climbed Rs 8,601.99 crore to Rs 5,44,139.55 crore.The market capitalisation (mcap) of HDFC Bank rallied Rs 7,664.89 crore to Rs 12,33,646.33 crore, and that of Hindustan Unilever edged higher by Rs 6,461.38 crore to Rs 5,17,086.30 crore.However, the mcap of Larsen & Toubro tumbled Rs 26,572.2 crore to Rs 5,53,978.63 crore.The mcap of Reliance Industries eroded by Rs 18,945.56 crore to Rs 17,64,981.36 crore, and that of State Bank of India (SBI) declined by Rs 4,846.08 crore to Rs 9,59,891.92 crore.The market valuation of Tata Consultancy Services (TCS) dipped by Rs 1,031.15 crore to Rs 7,57,175.27 crore.Reliance Industries remained the country's most valued firm, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
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