Top-7 scrips gain Rs 3.04 lakh-cr mcap

The combined market valuation of seven of the 10 most valued firms climbed Rs3,04,477.25 crore last week, with HDFC Bank and LIC emerging as the biggest gaineRsamid an overall optimistic trend in equities.

Last week, the BSE benchmark rallied 2,344.41 points or 3.47 per cent. On Friday, the 30-share BSE Sensex rose 303.91 points, or 0.44 per cent, to hit its new peak of 69,825.60. The index touched the highest intra-day level of 69,893.80. HDFC Bank, Life Insurance Corporation of India (LIC), ICICI Bank, Tata Consultancy Services, and Reliance Industries were among the companies that recorded additions in their market valuation. HDFC Bank’s valuation soared by Rs74,076.15 crore to Rs12,54,664.74 crore.

The market capitalisation (mcap) of Life Insurance Corporation of India jumped by Rs65,558.6 crore to Rs4,89,428.32 crore at close on Friday. LIC had reclaimed the Rs5 lakh crore-mark after the shares of the company hit a 52-week high on the bourse on Thursday. However, at close, the company’s market cap was just short of Rs5 lakh crore mark. ICICI Bank mcap climbed Rs45,466.21 crore to Rs7,08,836.92 crore. Tata Consultancy Services (TCS) mcap surged Rs42,737.72 crore to Rs13,26,918.39 crore and that of Reliance Industries Ltd soared Rs42,454.66 crore to Rs16,61,787.10 crore. The valuation of State Bank of India rose by Rs37,617.24 crore to Rs5,47,971.17 crore and that of Infosys advanced by Rs15,916.92 crore to Rs6,18,663.93 crore.

However, the market valuation of Hindustan Unilever declined by Rs9,844.79 crore to Rs5,92,414.19 crore and that of Bharti Airtel fell Rs8,569.98 crore to Rs5,61,896.90 crore. Also, the mcap of ITC declined by Rs935.48 crore to Rs5,60,223.61 crore.

In the ranking of top-10 firms, Reliance Industries Ltd retained the title of the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever Ltd, Bharti Airtel, ITC, State Bank of India, and Life Insurance Corporation of India.