Nine of top 10 firms’ market cap skyrockets by Rs 3 lakh crore

PTI, Oct 11, 2020, 11:18 AM IST

Mumbai: Nine of the 10 most valued companies added a whopping Rs 3,01,145.46 crore to their combined market capitalisation last week, helped by a bullish market trend and rally in Tata Consultancy Services (TCS).

During the last week, BSE Sensex advanced 1,812.44 points or 4.68 per cent.

TCS was the biggest gainer from the elite club with its valuation zooming by Rs 1,09,644.68 crore to Rs 10,56,277.53 crore.

The market capitalisation (m-cap) of HDFC Bank jumped Rs 69,952.08 crore to Rs 6,78,991.98 crore. Infosys added Rs 38,270.81 crore to its market valuation at Rs 4,71,751.13 crore. HDFC witnessed a gain of Rs 30,052.75 crore in m-cap at Rs 3,51,483.41 crore.

ICICI Bank’s valuation jumped by Rs 22,428.99 crore to Rs 2,77,003.07 crore and that of HCL Technologies Limited rose by Rs 11,736.6 crore to Rs 2,32,289.73 crore.

The market cap of Hindustan Unilever Limited increased by Rs 10,291.06 crore to Rs 5,02,534.84 crore and that of Reliance Industries by Rs 5,849.16 crore to Rs 15,10,436.34 crore. Kotak Mahindra Bank added Rs 2,919.33 crore to Rs 2,61,265.33 crore.

In contrast, Bharti Airtel’s valuation declined Rs 3,928 crore to Rs 2,31,943.02 crore.

In the ranking of top-10 companies, RIL remained at number one rank followed by TCS, HDFC Bank, HUL, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank, HCL Technologies and Bharti Airtel.