Mumbai, July 5 (IANS) The combined market valuation of six of India’s 10 most-valued companies rose by more than Rs 1 lakh crore last week, led by a sharp gain in Bharti Airtel, as benchmark equity indices extended their winning streak amid sustained investor optimism.
The rally came as the Sensex advanced 663.44 points, or 0.86 per cent, during the week, while the Nifty gained 214.85 points, or 0.89 per cent.
Among the top gainers, Bharti Airtel recorded the biggest increase in market valuation, with its market capitalisation rising by Rs 36,529.21 crore to Rs 11,63,877.30 crore. Bajaj Finance followed with an addition of Rs 33,059.83 crore, taking its valuation to Rs 6,43,141.36 crore.
ICICI Bank also posted a strong performance, with its market capitalisation increasing by Rs 16,084.29 crore to Rs 10,11,695.03 crore. Life Insurance Corporation of India (LIC) added Rs 8,601.99 crore, taking its valuation to Rs 5,44,139.55 crore.
HDFC Bank’s market capitalisation rose by Rs 7,664.89 crore to Rs 12,33,646.33 crore, while Hindustan Unilever added Rs 6,461.38 crore, taking its valuation to Rs 5,17,086.30 crore.
On the other hand, four of the top-10 valued companies witnessed erosion in their market capitalisation during the week. Larsen & Toubro recorded the steepest decline, with its valuation falling by Rs 26,572.20 crore to Rs 5,53,978.63 crore.
Reliance Industries also saw its market capitalisation decline by Rs 18,945.56 crore to Rs 17,64,981.36 crore. State Bank of India lost Rs 4,846.08 crore in valuation, ending the week with a market capitalisation of Rs 9,59,891.92 crore, while Tata Consultancy Services (TCS) shed Rs 1,031.15 crore to Rs 7,57,175.27 crore.
Despite the weekly decline, Reliance Industries retained its position as India’s most-valued listed company. It was followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India and Hindustan Unilever in the list of the country’s top-10 most-valued firms.
–IANS
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