Finance
The combined market valuation of seven of the top ten most valuable companies increased by Rs 1,07,224.82 crore last week, with IT behemoths Tata Consultancy Services (TCS) and Infosys leading the way.
The 30-share BSE Sensex gained 360.81 points, or 0.60 percent, last week.
While TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, HDFC, and Life Insurance Corporation of India (LIC) saw their market valuations rise, Reliance Industries Limited, State Bank of India, and Bharti Airtel saw theirs fall.
TCS’s valuation increased by Rs 59,349.81 crore to Rs 12,34,637.11 crore, the highest among the top-10 firms.
Infosys’ market capitalisation (mcap) increased by Rs 22,997.16 crore to Rs 6,32,684.95 crore.
On Thursday, Infosys reported a better-than-expected 13.4% increase in profit for the December quarter and raised its annual sales forecast due to a strong deal pipeline, despite warning of “constraints” in certain verticals due to the slowing global economy.
Meanwhile, Hindustan Unilever’s valuation increased by Rs 10,514.42 crore to Rs 6,16,004.09 crore, while HDFC’s valuation increased by Rs 4,904.87 crore to Rs 4,78,922.89 crore.
LIC increased its mcap by Rs 3,668.5 crore, bringing it to Rs 4,50,782.59 crore.
HDFC Bank’s mcap increased by Rs 3,624.89 crore to Rs 8,92,754.89 crore, while ICICI Bank’s increased by Rs 2,165.17 crore to Rs 6,09,305.82 crore.
However, Reliance Industries’ valuation fell from Rs 47,290.7 crore to Rs 16,69,280.55 crore.
The market capitalization of Bharti Airtel fell by Rs 17,373.86 crore to Rs 4,25,982.59 crore, while that of State Bank of India fell by Rs 490.85 crore to Rs 5,35,521.33 crore.
Reliance Industries remained the most valuable domestic firm in the top-10 ranking, followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, State Bank of India, HDFC, LIC, and Bharti Airtel.
Source:BS
