Market valuation of top 7 firms surges ₹1.50 lakh crore, big gains by TCS & Infosys
market valuation of seven out of the top 10 valued firms witnessed a significant increase of ₹1,50,679.28 crore (or ₹1.50 lakh crore) in the past week, PTI reported. This surge was primarily led by IT giants Tata Consultancy Services (TCS) and Infosys, amidst a generally positive trend in equities, it added.
Last week, the BSE benchmark observed a notable jump of 890.05 points or 1.37 percent, reflecting the overall optimistic market sentiment. Also Read | IPOs This Week: Dalal Street to remain buzzing as 6 new companies gear up to raise ₹7,300 crore; check full list here In terms of the most valued companies, Reliance Industries (RIL), maintained its top position, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever (HUL), ITC, Bharti Airtel, State Bank of India (SBI), and Bajaj Finance, in that order.
Among the gainers were RIL, TCS, HDFC Bank, Infosys, HUL, ITC, and Bharti Airtel. However, ICICI Bank, SBI, and Bajaj Finance faced declines in their market valuations.
TCS saw a remarkable increase in valuation, soaring ₹62,148.99 crore to reach ₹12,81,637.63 crore, emerging as the top gainer among the top 10 firms. Also Read | Stocks to Buy: Nykaa, SBI Life among top bets; here's why It was followed by Infosys, which also experienced a robust rally, with its market capitalisation (mcap) surging by ₹28,616.98 crore to ₹5,96,681.75 crore.
Among the other gainers, RIL witnessed a climb of ₹28,111.41 crore in its mcap, reaching ₹15,93,893.03 crore, while HDFC Bank surged by ₹11,136.61 crore to hit ₹11,42,215.81 crore. Also Read: India's GDP crosses $4 trillion for the first time, ranks fourth worldwide
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