Mumbai, Oct 18 (IANS): The combined market capitalisation of nine of India’s 10 most-valued companies surged by Rs 3.65 lakh crore last week, with Tata Consultancy Services (TCS), Bharti Airtel and Infosys emerging as the biggest gainers as benchmark equity indices rallied sharply.
The upbeat sentiment on Dalal Street came as the Sensex climbed 2,256.94 points, or 3.11 per cent, during the week, while the Nifty advanced 625.7 points, or 2.77 per cent.
Among the top-10 valued firms, Tata Consultancy Services (TCS) emerged as the biggest wealth creator. The company’s market capitalisation jumped by Rs 1,08,542.63 crore to Rs 8,91,134.96 crore. Telecom major Bharti Airtel followed closely, with its valuation rising by Rs 61,406.53 crore to Rs 11,88,815.45 crore. Infosys also posted a strong gain, adding Rs 55,893.05 crore and taking its market value to Rs 4,71,409.41 crore. Reliance Industries registered an increase of Rs 53,047.56 crore in its market capitalisation, pushing its valuation to Rs 16,37,437.19 crore and retaining its position as the country’s most valuable listed company.
Private sector lenders also witnessed healthy gains. HDFC Bank added Rs 32,379.05 crore to reach a market valuation of Rs 11,22,628.07 crore, while ICICI Bank’s market capitalisation increased by Rs 30,769.95 crore to Rs 10,02,871.44 crore.
Among other gainers, Bajaj Finance saw its valuation rise by Rs 14,786.65 crore to Rs 6,11,326.72 crore. Life Insurance Corporation of India (LIC) added Rs 4,933.5 crore, taking its market capitalisation to Rs 5,02,204.82 crore, while State Bank of India gained Rs 3,323.07 crore to reach Rs 8,87,722.84 crore.
Larsen & Toubro was the only company among the top-10 most-valued firms to witness a decline in market value during the week. Its market capitalisation fell by Rs 9,232.26 crore to Rs 4,99,725.06 crore.
In the ranking of India’s most-valued companies, Reliance Industries remained at the top, followed by Bharti Airtel, HDFC Bank, ICICI Bank, TCS, State Bank of India, Bajaj Finance, LIC, Larsen & Toubro and Infosys.
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