Top 10 firms add Rs 2 lakh crore in market value

Mumbai, June 21 (IANS) The combined market valuation of nine of India’s 10 most-valued companies surged by Rs 2.15 lakh crore last week after a strong rally in domestic equities amid improving global risk sentiment.

Among the top 10 firms, Bharti Airtel recorded the highest increase in market capitalisation, with its valuation rising by Rs 52,432.67 crore to Rs 11.63 lakh crore.

State-owned Life Insurance Corporation of India (LIC) was the second-biggest gainer, adding Rs 51,675.23 crore to take its market valuation to Rs 5.57 lakh crore.

Bajaj Finance saw its market capitalisation climb by Rs 26,553.71 crore to Rs 5.99 lakh crore.

Engineering and construction major Larsen & Toubro (L&T) gained Rs 21,929.12 crore in market value to reach Rs 5.79 lakh crore.

India’s largest lender, State Bank of India, added Rs 16,753.57 crore, pushing its market capitalisation to Rs 9.55 lakh crore.

Private sector lender HDFC Bank’s valuation increased by Rs 11,948.72 crore to Rs 12.01 lakh crore, while Hindustan Unilever Ltd added Rs 6,661.10 crore to reach a market capitalisation of Rs 5.16 lakh crore.

Another private lender, ICICI Bank, ended the week higher, with its market valuation rising by Rs 4,724.22 crore to Rs 9.66 lakh crore.

In contrast, Tata Consultancy Services (TCS) was the only company among the top 10 most-valued firms to witness a decline in valuation. The IT major’s market capitalisation fell by Rs 12,699.49 crore to Rs 7.69 lakh crore amid continued pressure on technology stocks following Accenture’s guidance cut.

Moreover, during the week, Sensex advanced more than 1,200 points, or 1.68 per cent. Similarly, the Nifty gained nearly 400 points, or 1.65 per cent, to close at 24,013.10.

–IANS

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