Top-8 firms’ mcap climbs Rs 2.90 lakh cr

New Delhi: The combined market valuation of eight of the top-10 most valued firms climbed Rs2.90 lakh crore last week, with Reliance Industries emerging as the lead gainer, amid optimism in equities.

Last week, BSE benchmark Sensex jumped 1,384.96 points or 1.95 per cent. From the top-10 pack, Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, Infosys, LIC, State Bank of India, and Hindustan Unilever were the gainers, while Bharti Airtel and ITC faced erosion of their valuation. The combined market valuation of eight of the top-10 most valued firms stood at Rs2,90,267.98 crore.

The market capitalisation (mcap) of Reliance Industries jumped Rs1,38,290.85 crore to reach Rs19,72,028.45 crore. Shares of the company jumped 7.54 per cent last week. Tata Consultancy Services (TCS) added Rs57,867.9 crore, taking its valuation to Rs14,51,307.84 crore. The market valuation of State Bank of India climbed Rs33,467.29 crore to Rs5,80,456.76 crore and that of Life Insurance Corporation of India (LIC) zoomed Rs26,153.87 crore to Rs5,97,490.91 crore.

The mcap of ICICI Bank advanced by Rs10,522.67 crore to Rs7,19,033.83 crore and that of Infosys surged Rs9,566.79 crore to Rs7,03,024.44 crore. The valuation of HDFC Bank went up by Rs8,771.34 crore to Rs10,98,772.65 crore and that of Hindustan Unilever rallied by Rs5,627.27 crore to Rs5,76,601.44 crore.

However, the mcap of ITC fell by Rs18,931.64 crore to Rs5,49,330.64 crore and that of Bharti Airtel declined by Rs5,231.18 crore to Rs6,47,176.65 crore. In the ranking of most valued firms, Reliance Industries retained the number one title, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, State Bank of India, Hindustan Unilever and ITC.