Market cap of nine of top-10 firms jumps by Rs 3 lakh crore; ICICI Bank, Airtel lead gains

NEW DELHI: The combined market capitalisation of nine of India’s top-10 most-valued companies rose by Rs 3,06,243.74 crore last week, driven by a strong rally in equities. ICICI Bank and Bharti Airtel recorded the highest gains.
The surge followed an upbeat week in the stock markets, with the BSE Sensex climbing 3,076.6 points (4.16 percent) and the NSE Nifty advancing 953.2 points (4.25 percent).
ICICI Bank saw the most significant rise in valuation, adding Rs 64,426.27 crore to reach Rs 9,47,628.46 crore. Bharti Airtel also registered a sharp increase, with its market cap soaring by Rs 53,286.17 crore to Rs 9,84,354.44 crore.
HDFC Bank’s valuation grew by Rs 49,105.12 crore, bringing its total market capitalisation to Rs 13,54,275.11 crore.
Reliance Industries gained Rs 39,311.54 crore, taking its valuation to Rs 17,27,339.74 crore, while Bajaj Finance added Rs 30,953.71 crore, reaching Rs 5,52,846.18 crore.
Tata Consultancy Services (TCS) saw its market cap increase by Rs 24,259.28 crore to Rs 12,95,058.25 crore.
State Bank of India (SBI) recorded a gain of Rs 22,534.67 crore, bringing its valuation to Rs 6,72,023.89 crore, while Hindustan Unilever’s market cap rose by Rs 16,823.08 crore to Rs 5,28,058.89 crore.
Infosys added Rs 5,543.9 crore, taking its market valuation to Rs 6,61,364.38 crore.
However, ITC was the only company among the top 10 to witness a decline in market value, losing Rs 7,570.64 crore to settle at Rs 5,07,796.04 crore.
Reliance Industries retained its position as the most valuable company in India, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and ITC.