Powered by RIL, valuation of four of top 10 firms soars by Rs 3 lakh cr

PTI, Sep 13, 2020, 10:42 AM IST

New Delhi: Four of the 10 most valued Indian firms added Rs 3,01,847.99 crore to their market capitalisation last week, led by Reliance Industries which surpassed the Rs 15 lakh crore mark in valuation.

The country’s most valued firm, RIL, added a whopping Rs 2,51,067.2 crore to its market valuation that stood at Rs 15,68,015.09 crore on Friday.

Shares of Reliance Industries were in the limelight last week amid media reports that it has offered a 40 per cent stake in its retail arm worth about USD 20 billion to Amazon.com, which the company said was speculative.

Also, on Wednesday, it was announced that US private equity firm Silver Lake Partners would buy 1.75 per cent stake in RIL’s retail arm for Rs 7,500 crore.

Tata Consultancy Services, Hindustan Unilever Limited and Infosys were the other gainers in the coveted list of most valued firms last week.

However, HDFC Bank, HDFC, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank and ITC emerged as losers with their combined market valuation dropping by Rs 54,801.02 crore.

Among gainers, the valuation of Tata Consultancy Services (TCS) rose by Rs 31,501.27 crore to Rs 8,90,703.56 crore and that of Infosys by Rs 11,138.31 crore to Rs 4,02,683.22 crore.

Hindustan Unilever Limited also added Rs 8,141.21 crore to Rs 5,07,327.93 crore in its valuation.

In contrast, the market capitalisation of HDFC Bank tumbled Rs 22,727.92 crore to Rs 5,93,512.25 crore.

Bharti Airtel’s valuation diminished by Rs 17,157.73 crore to Rs 2,68,222.48 crore and that of Kotak Mahindra Bank declined Rs 9,608.05 crore to Rs 2,63,207.24 crore.

The market capitalisation of ITC dipped by Rs 3,383.8 crore to Rs 2,26,283.99 crore and that of ICICI Bank went lower by Rs 1,823.57 crore to Rs 2,55,249.73 crore.

HDFC’s valuation eroded by Rs 99.95 crore to Rs 3,17,221.68 crore.

The BSE Sensex advanced 497.37 points or 1.29 per cent in the last week.

RIL was the topper in the ranking of top-10 companies, followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank and ITC.