Last week proved to be a positive period for several of India’s leading corporations, as the collective market valuation of eight out of the top ten firms surged by an impressive ₹88,085.89 crore. HDFC Bank emerged as the frontrunner among these gainers, aligning with the overall buoyant trend in the equity markets. The BSE benchmark index also saw a commendable increase, closing up by 509.41 points, which is approximately 0.66% higher.
Notable Gainers in the Market
Among the top-ten firms, several companies reported significant growth in their market capitalizations:
- HDFC Bank: Added ₹44,933.62 crore, raising its total valuation to ₹13,99,208.73 crore.
- State Bank of India: Saw an increase of ₹16,599.79 crore, bringing its market cap to ₹6,88,623.68 crore.
- Tata Consultancy Services (TCS): Gained ₹9,063.31 crore, elevating its valuation to ₹13,04,121.56 crore.
- ICICI Bank: Increased by ₹5,140.15 crore, now valued at ₹9,52,768.61 crore.
- ITC: Grew by ₹5,032.59 crore, now at ₹5,12,828.63 crore.
- Hindustan Unilever: Climbed ₹2,796.01 crore, bringing its valuation to ₹5,30,854.90 crore.
- Bharti Airtel: Increased by ₹2,651.48 crore, reaching ₹9,87,005.92 crore.
- Bajaj Finance: Rose by ₹1,868.94 crore, lifting its market cap to ₹5,54,715.12 crore.
Companies Facing Valuation Declines
In contrast to the positive performance of many, Reliance Industries and Infosys experienced declines:
- Infosys: Market valuation decreased by ₹9,135.89 crore, settling at ₹6,52,228.49 crore.
- Reliance Industries: Saw a dip of ₹1,962.20 crore, leaving it with a valuation of ₹17,25,377.54 crore.
Market Ranking Insights
Despite the fluctuations, Reliance Industries maintained its position as the most valuable firm in India, followed closely by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and ITC.
Investors are keeping a close eye on market developments, especially with upcoming IPOs and regulatory news. This week, no major mainboard or SME issues are scheduled, but four key listings are anticipated to attract attention on Dalal Street.
For those interested in more financial insights, keep an eye on the latest updates regarding the Reserve Bank of India’s recent regulatory actions, including the fine imposed on HDFC Bank for KYC violations.
