Market capitalisation of 7 of top-10 most valued firms jump ₹1.72 lakh crore; TCS leads the pack

Last week witnessed a significant surge in the combined market valuation of seven of the top-10 most valued firms, amounting to an increase of ₹1,72,225.62 crore. Leading the charge was IT giant Tata Consultancy Services (TCS), benefiting from a bullish equity market.

During the week, the BSE benchmark rose by 522.74 points, marking a 0.65% increase. The 30-share BSE Sensex climbed 622 points, or 0.78%, reaching a record closing level of 80,519.34 on Friday. In intraday trading, it peaked at 80,893.51, surging by 996.17 points or 1.24 per cent.

TCS saw its market capitalization (mcap) surge by ₹62,393.92 crore to ₹15,14,133.45 crore after its shares jumped nearly 7 per cent on Friday, following a robust 8.7 per cent growth in net profit to ₹12,040 crore for the June quarter.

ITC added ₹31,858.83 crore, bringing its valuation to ₹5,73,258.78 crore. Infosys' mcap increased by ₹26,905.14 crore to ₹7,10,827.27 crore, while Life Insurance Corporation of India (LIC) saw a jump of ₹22,422.12 crore, reaching ₹6,64,947.01 crore.

Hindustan Unilever's market valuation surged by ₹17,668.92 crore to ₹6,16,156.81 crore, and Reliance Industries gained ₹9,066.19 crore, reaching ₹21,60,628.75 crore. Bharti Airtel's mcap climbed by ₹1,910.5 crore to ₹8,15,705.36 crore.

However, HDFC Bank saw a decline in valuation by ₹18,069.29 crore to ₹12,35,825.35 crore. Similarly, State Bank of India's mcap diminished by ₹356.99 crore to ₹7,67,204.26 crore, and ICICI Bank declined by ₹210.5 crore to ₹8,67,668.16 crore.

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

(With inputs from PTI)