Mcap of 8 of top-10 most valued firms surges by Rs 1.87 lakh cr; Airtel biggest winner

The combined market valuation of eight of the top-10 most valued firms surged by Rs 1,87,497.45 crore in a holiday-shortened last week, with Bharti Airtel emerging as the biggest gainer, in line with a positive trend in equities.

Last week, the BSE benchmark Sensex jumped 943.29 points or 1.21 per cent, and the NSE Nifty climbed 302.95 points or 1.25 per cent.

“Markets ended the truncated week with notable gains, extending their uptrend for the second consecutive week, supported by easing geopolitical tensions and improving risk sentiment. Optimism surrounding a potential US-Iran peace agreement underpinned market confidence, while stable domestic fundamentals further aided momentum,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

The market valuation of Bharti Airtel jumped Rs 58,831.52 crore to Rs 11,25,125.21 crore, the most among the top-10 firms.

The valuation of Life Insurance Corporation of India (LIC) surged Rs 27,608.62 crore to Rs 5,32,691.31 crore.

Tata Consultancy Services (TCS) added Rs 20,731.64 crore, taking its market valuation to Rs 9,34,063.56 crore.The market capitalisation (mcap) of Reliance Industries rallied by Rs 20,231.05 crore to Rs 18,47,317.84 crore and that of Larsen & Toubro climbed Rs 18,577.91 crore to Rs 5,63,314.50 crore.ICICI Bank’s mcap edged higher by Rs 18,266.82 crore to Rs 9,65,008.67 crore.

The valuation of State Bank of India went up by Rs 12,599.79 crore to Rs 9,97,229.77 crore and that of Infosys went by Rs 10,650.1 crore to Rs 5,34,774.50 crore.

However, mcap of HDFC Bank dropped by Rs 16,163.04 crore to Rs 12,31,315.53 crore.

The market valuation of Bajaj Finance diminished by Rs 9,769.3 crore to Rs 5,65,437.17 crore.

Reliance Industries remained the most valued firm followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys, LIC.