TCS, HDFC, LIC among eight of top-10 most valued firms climb Rs 2.90 lakh

Last week, amid a positive outlook in the stock market, the combined market valuation of eight out of the top-10 most valued companies surged by Rs 2.90 lakh crore. Reliance Industries stood out as the primary beneficiary of the optimistic market conditions.

The top gainers among the leading companies were Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, Infosys, LIC, State Bank of India, and Hindustan Unilever. On the contrary, Bharti Airtel and ITC experienced a decline in their market valuation.

The collective market capitalization of these top eight firms reached Rs 2,90,267.98 crore by the end of the week. Reliance Industries witnessed the most substantial gain, with its market capitalization increasing by Rs 1,38,290.85 crore, reaching a total of Rs 19,72,028.45 crore. This surge was fueled by a 7.54% increase in the company's share value.

Tata Consultancy Services (TCS) also performed well, adding Rs 57,867.9 crore to its valuation, reaching Rs 14,51,307.84 crore. Other notable gainers included State Bank of India, whose market capitalization climbed by Rs 33,467.29 crore, and LIC, which saw a surge of Rs 26,153.87 crore.

On the losing side, ITC experienced a decrease in market capitalization by Rs 18,931.64 crore, and Bharti Airtel saw a decline of Rs 5,231.18 crore.

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

It's important to note that Moneycontrol is part of the Network18 group, controlled by Independent Media Trust, with Reliance Industries being the sole beneficiary.