Market cap of eight out of top 10 companies gains; Bharti Airtel, Infosys, TCS leads, ITC, Hindustan Unilever decline

The market valuation of eight out of the top ten most valuable companies in India saw a significant increase last week, adding a total of ₹1,53,019.32 crore. Bharti Airtel, along with IT giants Infosys and Tata Consultancy Services (TCS), emerged as the biggest beneficiaries, reflecting a strong rally in the equity markets, on August 30, as per PTI.

The BSE benchmark index made notable gains, rising by 1,279.56 points or 1.57% over the course of the week.

On Friday, the BSE Sensex extended its winning streak to nine consecutive sessions, closing 231.16 points or 0.28% higher at an all-time high of 82,365.77. Earlier in the day, it reached a record intra-day peak of 82,637.03, gaining 502.42 points or 0.61%.

Among the top performers, Bharti Airtel’s market valuation soared by ₹47,194.86 crore, bringing its total to ₹9,04,587.12 crore. Infosys saw its valuation increase by ₹33,611.37 crore, reaching ₹8,06,880.50 crore.

Tata Consultancy Services (TCS) also experienced substantial growth, with its valuation rising by ₹31,784.9 crore to ₹16,46,899.17 crore. ICICI Bank’s market cap surged by ₹18,734.3 crore, bringing its total to ₹8,66,374.41 crore.

Reliance Industries continued to dominate as the most valuable firm, with its market cap climbing by ₹13,396.42 crore to ₹20,43,107.10 crore. HDFC Bank also posted gains, with its valuation increasing by ₹5,600.24 crore to ₹12,44,206.43 crore.

Life Insurance Corporation of India (LIC) saw its market value rise by ₹2,340.25 crore, reaching ₹6,73,390.88 crore. The State Bank of India also saw a modest increase of ₹356.98 crore, bringing its total valuation to ₹7,27,935.97 crore.

Who were the losers?

In contrast, Hindustan Unilever and ITC experienced declines in their market valuations. Hindustan Unilever’s market cap dropped by ₹8,411.54 crore to ₹6,52,739.95 crore, while ITC’s valuation decreased by ₹4,776.48 crore to ₹6,27,587.76 crore.

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