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Mcap: Seven of top 10 most valued firms rise over ₹1 lakh cr; TCS,RIL, top gainers

New Delhi: Seven of the top 10 most valued companies recorded a cumulative increase of over ₹1 lakh crore in terms of market capitalisation between the October 3 to October 7 trading sessions, with Reliance Industries and TCS emerging as the biggest gainers. Meanwhile, Hindustan Unilever emerged as the top laggard.

By Priyanka Verma 
Updated Date

New Delhi: Seven of the top 10 most valued companies recorded a cumulative increase of over ₹1 lakh crore in terms of market capitalisation between the October 3 to October 7 trading sessions, with Reliance Industries and TCS emerging as the biggest gainers. Meanwhile, Hindustan Unilever emerged as the top laggard. Last week, both Sensex and Nifty 50 climbed by more than 3% each.

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The combined market valuation of seven of the 10 most valued firms climbed ₹1,01,043.69 crore last week. The market valuation of Reliance Industries Ltd (RIL) climbed Rs 37,581.61 crore to reach Rs 16,46,182.66 crore. Tata Consultancy Services (TCS) added Rs 22,082.37 crore, taking its valuation to Rs 11,21,480.95 crore.

The billionaire Mukesh Ambani-backed RIL has maintained its leadership position of being the most valued company in terms of market share. TCS holds the second spot currently. The market valuation of Infosys jumped Rs 16,263.25 crore to Rs 6,10,871.36 crore and that of ICICI Bank went higher by Rs 13,433.27 crore to Rs 6,14,589.87 crore.

Moreover, the HDFC twins as well recorded an upside in their valuation with NBFC-giant HDFC recording an upside of ₹6,733.19 crore in market cap to ₹4,22,810.22 crore and the largest private banker HDFC Bank’s market cap surging by ₹4,623.07 crore to stand at ₹7,96,894.04 crore. Bajaj Finance added Rs 326.93 crore to its valuation to stand at Rs 4,44,563.66 crore.

However, Hindustan Unilever’s valuation diminished by Rs 23,025.99 crore to Rs 6,10,623.53 crore. Meanwhile, the valuation of Bharti Airtel and State Bank of India (SBI) dipped by ₹3,532.65 crore and ₹624.73 crore to stand at ₹4,41,386.80 crore and ₹4,73,316.78 crore respectively.

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Together, the market cap of these top 10 companies is ₹71,82,719.87 as of October 7.In the ranking of top-10 companies, Reliance Industries remained the most valued Indian firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, SBI, Bajaj Finance, Bharti Airtel and HDFC.

Investors’ wealth rose by nearly ₹3,76,944.94 crore last week as the market cap of overall BSE-listed firms jumped to ₹2,75,61,546.77 crore as of October 7, compared to the market cap of ₹2,71,84,601.83 crore as of September 30, 2022.

Sensex ended at 58,191.29 down by 30.81 points or 0.05%. Nifty 50 closed at 17,314.65 lower by 17.15 points or 0.1%, on Friday. Between October 3 to 7, markets had only four trading days. Markets were closed on October 5 due to the Dussehra festival.

“All major sectors were positive compared to the last week, with metals, realty, and capital goods being the major gainers. Within the Nifty Index, ONGC (+5%), Coal India (+7.6%), and JSW Steel (+4.9%) gained the most, while Eicher Motors (-5%), Adani Enterprises (-5.8%) and Hindustan Unilever (-3.5%) lost the most. On the economy front, (1) GST collections for August (collected in September) stood at Rs1,477 billion (July: Rs1,436 billion) (2) September exports contracted by 3.5% yoy, and (3) September imports increased by 5.4% yoy. FPIs were net sellers in the past five trading sessions, while DIIs were net buyers in the same period,” On the past week’s market performance, Shrikant Chouhan, Head of equity research (Retail), at Kotak Securities said.

Head of Research at Geojit Financial Services Vinod Nair said, “Prior to the release of the US jobs data, the domestic market traded with cuts in line with its global counterparts. Stronger-than-anticipated job data may lead to a market decline as it could give the Fed more reasons to focus on inflation. Following OPEC+’s announcement of supply reductions, crude prices have continued to rise, while the rupee has dropped to a fresh low as a result of hawkish remarks from Fed officials.”

Also Read :- M-cap: 9 of top 10 firms adds over ₹79,000 cr; TCS, Infosys biggest winners

Markets are expected to be volatile going forward while tracking macroeconomic conditions and investors preparing for the second quarterly earnings season.

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