The combined market value of five of India’s top 10 companies increased by Rs 1.54 lakh crore last week, driven by Tata Consultancy Services (TCS) leading the wealth creation trend in the domestic equities market. The Sensex rose by 582.06 points, or 0.75%, and the Nifty by 127.4 points, or 0.52%, reflecting positive market sentiment.
Among the top 10 companies by market capitalization, Reliance Industries, ICICI Bank, State Bank of India, TCS, and Bajaj Finance saw gains in their valuations. Conversely, HDFC Bank, Bharti Airtel, LIC, Larsen & Toubro, and Hindustan Unilever experienced declines in their market capitalization.
TCS witnessed the largest valuation increase, adding Rs 72,072.3 crore to reach a market capitalization of Rs 8,20,672.70 crore. This surge followed a 4.61% year-on-year rise in TCS’s June-quarter consolidated net profit to Rs 13,349 crore, with expectations of improved demand in the current quarter.
ICICI Bank’s market value rose by Rs 29,062.06 crore to Rs 10,34,441.77 crore, while Reliance Industries added Rs 23,884.93 crore, reaching a market capitalization of Rs 17,95,091.26 crore. Bajaj Finance and State Bank of India also saw significant valuation increases.
Larsen & Toubro and LIC faced declines in their market valuations, with Bharti Airtel, HDFC Bank, and Hindustan Unilever also experiencing marginal decreases. Reliance Industries maintained its position as India’s most valuable listed company at the end of the week.
