Six of India’s top 10 firms add Rs 1.62 lakh crore in market value this week

Mumbai, June 22 (IANS) The combined market capitalisation of six of India’s top ten most-valued companies rose by Rs 1.62 lakh crore this week, reflecting strong investor sentiment in the equity markets.

This rise in market value came as the benchmark Sensex jumped by 1,289.57 points, or 1.58 per cent, during the same period, signalling positive momentum in the market.

Bharti Airtel emerged as the top gainer during the week, while a few big names like Bajaj Finance, TCS, and Hindustan Unilever saw their valuations decline.

Bharti Airtel’s market valuation saw a sharp rise of Rs 54,055.96 crore, reaching Rs 11,04,469.29 crore by the end of the week.

HDFC Bank also witnessed strong gains, with its market capitalisation increasing by Rs 38,503.91 crore to Rs 15,07,281.79 crore.

Other major gainers included Infosys, which added Rs 8,433.06 crore to reach a total valuation of Rs 6,73,751.09 crore.

ICICI Bank’s market value rose by Rs 8,012.13 crore to Rs 10,18,387.76 crore, while State Bank of India (SBI) added Rs 3,212.86 crore, taking its total to Rs 7,10,399.75 crore.

On the other hand, Bajaj Finance suffered a loss of Rs 17,876.42 crore in its market capitalisation, which stood at Rs 5,62,175.67 crore.

Tata Consultancy Services (TCS) saw a decline of Rs 4,613.06 crore, bringing its valuation down to Rs 12,42,577.89 crore.

Hindustan Unilever’s market cap slipped by Rs 3,336.42 crore to Rs 5,41,557.29 crore, and LIC lost Rs 1,106.88 crore, settling at Rs 5,92,272.78 crore.

Despite some declines, the overall trend remained positive, especially for banks and telecom stocks.

In the overall rankings of India’s most-valued companies, HDFC Bank remained at the second spot, followed by TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever.

Meanwhile, in the previous week, nine of the country’s ten most valued companies collectively had added Rs 1,00,850.96 crore to their market capitalisation.

–IANS

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