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Business News/ Markets / Stock Markets/  Market cap of 8 of top-10 valued firms surges to 1.10 lakh crore; RIL, ICICI Bank, LIC among biggest gainers
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Market cap of 8 of top-10 valued firms surges to ₹1.10 lakh crore; RIL, ICICI Bank, LIC among biggest gainers

Mcap of 8 of top-10 valued firms soars to ₹1.10 lakh crore; RIL biggest gainer

Market Capitalisation of eight of the 10 most valued firms jumped ₹1,10,106.83 crore last week. (Image: Pixabay)Premium
Market Capitalisation of eight of the 10 most valued firms jumped 1,10,106.83 crore last week. (Image: Pixabay)

Last week witnessed a significant surge in the market valuation of eight out of the top 10 most valued firms, totaling an impressive 1,10,106.83 crore, with Reliance Industries Ltd (RIL) leading the pack as the biggest gainer.

During the same period, the 30-share BSE Sensex benchmark saw a rise of 716.16 points or 0.97%.

Also read: Stock market holidays in March 2024: BSE, NSE to remain closed on these day; check full list

Among the gainers were RIL, ICICI Bank, Life Insurance Corporation of India (LIC), ITC, and Hindustan Unilever Ltd (HUL), while Tata Consultancy Services (TCS) and Infosys experienced a combined erosion of 38,477.49 crore in market valuation.

Reliance Industries notably added 43,976.96 crore to its market valuation, reaching 20,20,470.88 crore. On Friday, shares of the oil-to-telecom conglomerate hit a fresh 52-week high of 2,996.15 apiece.

Meanwhile, the valuation of ICICI Bank surged by 27,012.47 crore to 7,44,808.72 crore, and that of state-owned insurer LIC soared by 17,235.62 crore to 6,74,655.88 crore.

ITC's market capitalization rallied by 8,548.19 crore to 5,13,640.37 crore, and Hindustan Unilever Ltd's zoomed by 4,534.71 crore to 5,62,574.38 crore.

Also read: IPOs next week: Six new issues and five new listings to keep primary market busy

State Bank of India's market capitalization climbed by 4,149.94 crore to 6,77,735.03 crore, surpassing IT company Infosys to become the country's fifth most-valued firm by market valuation on the BSE on Wednesday.

Additionally, the market valuation of Bharti Airtel rose by 3,855.73 crore to 6,34,196.63 crore, and that of HDFC Bank by 793.21 crore to 10,79,286.5 crore.

However, the market valuation of IT major Tata Consultancy Services declined by 27,949.73 crore to 14,66,030.97 crore, and that of Infosys slumped by 10,527.76 crore to 6,96,045.32 crore.

Reliance Industries maintained its position as the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, SBI, LIC, Bharti Airtel, Hindustan Unilever, and ITC.

(With inputs from PTI)

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Published: 25 Feb 2024, 12:42 PM IST
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