Top 10 firms add Rs 2 lakh crore in market value
Mumbai, June 21
The combined market valuation of nine of India's 10 most-valued companies surged by Rs 2.15 lakh crore last week after a strong rally in domestic equities amid improving global risk sentiment.
Among the top 10 firms, Bharti Airtel recorded the highest increase in market capitalisation, with its valuation rising by Rs 52,432.67 crore to Rs 11.63 lakh crore.
State-owned Life Insurance Corporation of India (LIC) was the second-biggest gainer, adding Rs 51,675.23 crore to take its market valuation to Rs 5.57 lakh crore.
Bajaj Finance saw its market capitalisation climb by Rs 26,553.71 crore to Rs 5.99 lakh crore.
Engineering and construction major Larsen & Toubro (L&T) gained Rs 21,929.12 crore in market value to reach Rs 5.79 lakh crore.
India's largest lender, State Bank of India, added Rs 16,753.57 crore, pushing its market capitalisation to Rs 9.55 lakh crore.
Private sector lender HDFC Bank's valuation increased by Rs 11,948.72 crore to Rs 12.01 lakh crore, while Hindustan Unilever Ltd added Rs 6,661.10 crore to reach a market capitalisation of Rs 5.16 lakh crore.
Another private lender, ICICI Bank, ended the week higher, with its market valuation rising by Rs 4,724.22 crore to Rs 9.66 lakh crore.
In contrast, Tata Consultancy Services (TCS) was the only company among the top 10 most-valued firms to witness a decline in valuation. The IT major's market capitalisation fell by Rs 12,699.49 crore to Rs 7.69 lakh crore amid continued pressure on technology stocks following Accenture's guidance cut.
Moreover, during the week, Sensex advanced more than 1,200 points, or 1.68 per cent. Similarly, the Nifty gained nearly 400 points, or 1.65 per cent, to close at 24,013.10.
— IANS
Reader Comments
As an expat living in Mumbai, I've noticed how Indian markets are defying global trends. Accenture's cut hitting TCS is a cautionary tale about our over-reliance on IT services. Need more manufacturing and innovation.
Meanwhile, small investors like my father are still waiting for their portfolios to recover from 2022 losses. 😅 But yes, Airtel's growth is a sign of India's digital boom - ab toh 5G ka time aa gaya hai!
Interesting how Bajaj Finance and L&T are thriving - suggests credit demand and infrastructure spending are strong. But I worry about retail investors jumping in now at these highs. Thoda patience bhi chahiye, no? 📈
I wish the media would also cover how many smaller companies are struggling while these giants soar. The gap between rich and poor shows in stock markets too. But yes, great for SIP investors like me who held on! 💪
As someone who tracks Indian markets from abroad, this rally feels different - more broad-based. But TCS's dip due to Accenture is a reminder that we're still too dependent on global IT spending. Need more domestic tech innovation.
Bhai, yeh sab numbers b
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