Top-10 Valued Firms Add Massive Wealth, TCS Leads ₹1.54 Lakh Crore Market Cap Surge Amid Strong IT Rally
· Free Press Journal
Mumbai: India's stock market ended the week on a positive note, helping five of the country's 10 most valuable listed companies add a combined Rs 1.54 lakh crore to their market capitalisation (mcap). Among them, Tata Consultancy Services (TCS) emerged as the biggest wealth creator after reporting strong quarterly earnings and giving an optimistic business outlook.
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The benchmark BSE Sensex rose 582.06 points (0.75 percent), while the Nifty 50 gained 127.4 points (0.52 percent) during the week.
TCS Drives the Rally
TCS saw the biggest jump in market value, adding Rs 72,072.30 crore to take its total market capitalisation to Rs 8.21 lakh crore.
The rally came after the IT major reported a 4.61 percent rise in June quarter net profit to Rs 13,349 crore. The company also indicated that demand, which had been affected by the West Asia crisis, is expected to improve in the current quarter.
Reliance, ICICI Bank Also Shine
Apart from TCS, several heavyweight companies recorded healthy gains.
ICICI Bank added Rs 29,062.06 crore, taking its valuation to Rs 10.34 lakh crore.
Top-10 Firms Add Mixed Wealth, HDFC Bank and Bharti Airtel Lead ₹92,995 Crore Market Cap Gains Despite Weak WeekReliance Industries gained Rs 23,884.93 crore, pushing its market capitalisation to Rs 17.95 lakh crore, retaining its position as India's most valuable listed company.
Bajaj Finance added Rs 21,946.50 crore, while State Bank of India (SBI) gained Rs 7,338.34 crore during the week.
Five Companies Lose Market Value
Not every blue-chip stock ended the week higher.
Larsen & Toubro (L&T) saw the biggest decline, losing Rs 18,097.72 crore in market value.
Life Insurance Corporation of India (LIC) lost Rs 12,080.75 crore, followed by Bharti Airtel, which shed Rs 7,706.45 crore.
HDFC Bank also witnessed a decline of Rs 7,084.61 crore, while Hindustan Unilever lost Rs 1,221.79 crore in market value.
Top-10 Firms Add ₹88,678 Crore In Market Value, ICICI Bank Leads Gains with ₹29,589 Crore Jump Despite Losses In Four CompaniesTop-10 Ranking Remains Unchanged
Despite the weekly changes, the ranking of India's most valuable companies remained unchanged. Reliance Industries continued to lead the list, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, LIC, L&T, and Hindustan Unilever. Strong IT earnings and steady domestic fundamentals helped keep overall market sentiment positive.