The combined market valuation of eight of the top ten most valued firms in India surged by ₹1,21,270.83 crore last week, driven by a remarkable rally in benchmark equity indices. Reliance Industries emerged as the biggest gainer, contributing significantly to the gains.
The BSE benchmark index rose by 1,027.54 points, or 1.21%, reaching a record high of 85,978.25 points on Friday.
Reliance Industries saw its market valuation increase by ₹53,652.92 crore, bringing its total to ₹20,65,197.60 crore. State Bank of India added ₹18,518.57 crore to its valuation, now at ₹7,16,333.98 crore.
Bharti Airtel’s market valuation climbed by ₹13,094.52 crore to ₹9,87,904.63 crore, while ITC’s grew by ₹9,927.3 crore, reaching ₹6,53,834.72 crore. Tata Consultancy Services (TCS) saw a rise of ₹8,592.96 crore in its market capitalisation, totalling ₹15,59,052 crore.
HDFC Bank's valuation rose by ₹8,581.64 crore to ₹13,37,186.93 crore, and Life Insurance Corporation of India (LIC) increased by ₹8,443.87 crore to ₹6,47,616.51 crore. Infosys also recorded a modest gain, with its market capitalisation up by ₹459.05 crore to ₹7,91,897.44 crore.
However, not all firms experienced gains. ICICI Bank's market valuation dropped by ₹23,706.16 crore to ₹9,20,520.72 crore, and Hindustan Unilever's fell by ₹3,195.44 crore to ₹6,96,888.77 crore.
In the rankings of India’s most valued firms, Reliance Industries continues to hold the top position, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.
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