New Delhi: The market valuation of six of the 10 most valued firms rose by a whopping ₹1.15 trillion last week, with HDFC Bank and HUL notching up the biggest gains.
The BSE Sensex on Friday posted its biggest single-day jump in over a decade at 1,921 points after Finance Minister Nirmala Sitharaman delivered a surprise cut in corporate tax rates.
Riding on Friday's rally, the 30-share index logged a weekly gain of 629.63 points or 1.68%. RIL, Kotak Mahindra Bank, ICICI Bank and SBI were the other firms that witnessed gains in their market capitalisation (m-cap) for the week ended Friday, whereas TCS, HDFC, Infosys and ITC suffered losses.
From the top-10 pack, HDFC Bank emerged as the biggest gainer as its market valuation zoomed by ₹39,375.82 crore to ₹6,56,546.37 crore.
The valuation of Hindustan Unilever (HUL) vaulted ₹35,697.75 crore to ₹4,26,403.03 crore.
The m-cap of Reliance Industries Ltd (RIL) climbed ₹18,288.37 crore to ₹7,95,179.62 crore and that of Kotak Mahindra Bank advanced ₹10,494.42 crore to ₹2,93,824.83 crore.
SBI added ₹8,924.61 crore to its m-cap to reach ₹2,69,255.53 crore and ICICI Bank gained ₹2,655.01 crore to ₹2,69,529.14 crore.
In contrast, the valuation of Tata Consultancy Services (TCS) tumbled ₹28,424.3 crore to ₹7,75,092.58 crore.
Infosys suffered an erosion of ₹10,329.6 crore to ₹3,45,793.87 crore and HDFC's m-cap declined by ₹5,792.01 crore to ₹3,54,270.94 crore.
ITC's valuation fell by ₹2,211.29 crore to ₹2,92,566.88 crore.
In the ranking of top-10 firms, RIL emerged as the most valued firm, followed by TCS, HDFC Bank, HUL, HDFC, Infosys, Kotak Mahindra Bank, ITC, ICICI Bank and SBI.
Reliance Industries Limited on Friday raced past TCS to clinch the title of the most valued domestic firm by market valuation, helped by a rally in its share price.