Four of India's top 10 most valued companies saw a combined market cap increase of Rs 2.18 lakh crore last week, led by LIC and SBI.
Photograph: Shailesh Andrade/Reuters
New Delhi, Feb 11 (PTI) Four of the top-10 most valued firms together added Rs 2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers.
From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC) and SBI were the gainers. They collectively added Rs 2,18,598.29 crore in market capitalisation.
On the other hand, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever and ITC faced erosion from their valuation to the tune of Rs 1,06,631.39 crore.
Last week, the BSE benchmark declined by 490.14 points or 0.67 per cent.
Market valuation of LIC jumped Rs 86,146.47 crore to Rs 6,83,637.38 crore. The share price of LIC on Monday jumped nearly 6 per cent to hit the Rs 1,000 mark for the first time.
SBI added Rs 65,908.26 crore, taking its valuation to Rs 6,46,365.02 crore.
Market valuation of TCS climbed Rs 61,435.47 crore to Rs 15,12,743.31 crore and that of Reliance advanced Rs 5,108.09 crore to reach Rs 19,77,136.54 crore.
Shares of TCS jumped 4 per cent on Tuesday, taking its market valuation to above Rs 15 lakh crore.
However, market capitalisation (mcap) of HDFC Bank declined by Rs 32,963.94 crore to Rs 10,65,808.71 crore. The valuation of ITC eroded by Rs 30,698.62 crore to Rs 5,18,632.02 crore.
Mcap of Bharti Airtel fell by Rs 16,132.15 crore to Rs 6,31,044.50 crore and that of Infosys went lower by Rs 10,044.09 crore to Rs 6,92,980.35 crore.
The valuation of ICICI Bank dipped Rs 9,779.06 crore to Rs 7,09,254.77 crore and that of Hindustan Unilever diminished by Rs 7,013.53 crore to Rs 5,69,587.91 crore.
In the ranking of top-10 most valued firms, Reliance Industries continued to rule the chart followed by TCS, HDFC Bank, ICICI Bank, Infosys, LIC, State Bank of India, Airtel, Hindustan Unilever and ITC.
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