Mumbai: The country’s top 10 firms added over Rs31,000 crore to their combined market valuation in the past week, which witnessed an uptrend in the stock market, even as Infosys and ITC suffered losses.
At the end of Friday’s trade, the total market value of the 10 most valued firms, comprising six public sector and four private sector entities, stood at Rs10,75,484 crore, up from Rs10,44,468.72 crore a week-ago.
While the premium club gained Rs31,014 crore in their valuation last week, Infosys and ITC together lost Rs3,162.39 crore. Mukesh Ambani-led Reliance Industries gained the most and added Rs7,468 crore, taking its market capitalisation (M-Cap) to Rs2,18,907 crore.
During the week, shares of RIL gained 1.42% to Rs1,390.95. The jump in the scrip pulled up its valuation from Rs2,11,440 crore in the week-ago period.
IT bellwether Infosys witnessed an erosion of Rs1,861 crore in its valuation in the previous week and dropped to seventh position from last week’s fifth. At the end of Friday’s trade, its M-Cap stood at Rs71,849 crore.
Also diversified conglomerate ITC saw its valuation declining to Rs67,536 crore, a drop of Rs1,301 crore. It also slipped one place in the top 10 club to ninth position.