Mcap of 8 of top 10 rated companies rises by as much as Rs 4.55 lakh cr; Trust is the biggest winner

The combined market valuation of eight of the top 10 most valued companies rose by as much as Rs 4.55 lakh crore last week, with Reliance Industries emerging as the biggest gainer, in line with a notable rally in equities.Last week, the benchmark BSE rose 2,857.46 points or 3.53 percent.

Among the top 10, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC) and Hindustan Unilever were the gainers, while Tata Consultancy Services (TCS) and Infosys saw their valuations erode.The combined market valuation of the eight companies stood at Rs 4,55,336.36 crore.

Reliance Industries added Rs 1,41,887.97 crore, taking its market valuation to Rs 19,63,358.79 crore.

LIC’s valuation rose to Rs 5,70,198.54 crore from Rs 64,926.1 crore. Bharti Airtel’s market valuation rose by Rs 52,516.39 crore to Rs 11,62,288.64 crore and that of ICICI Bank rose by Rs 52,476.97 crore to Rs 10,06,258.82 crore.

The market capitalization (mcap) of Bajaj Finance rose Rs 48,659.83 crore to Rs 6,10,830.20 crore and that of State Bank of India by Rs 45,460.79 crore to Rs 9,84,353.06 crore. HDFC Bank’s valuation increased by Rs 32,350.28 crore to Rs 14,48,249.63 crore and that of Hindustan Unilever valued by Rs 17,058.03 crore to Rs 5,69,482.18 crore.

However, TCS’s market valuation fell by Rs 88,172.8 crore to Rs 10,64,242.35 crore.

Infosys’ mcap fell by Rs 63,462.66 crore to Rs 6,26,067.95 crore.

IT stocks saw selling last week in line with weak trends among technology companies globally, amid valuation-related concerns and worries about the rapid pace of advances in artificial intelligence.

Reliance Industries remained the most valued company, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, LIC and Hindustan Unilever.