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

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%.

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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.

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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)