Five of Indias Top Ten Companies See Market Cap Surge of ₹1.54 Lakh Crore

Mumbai, July 19: In a remarkable week for the Indian stock market, five of the top ten companies have witnessed a market capitalization increase of ₹1.54 lakh crore. Tata Consultancy Services (TCS) and ICICI Bank have benefited the most.

TCS experienced the highest valuation growth, with its market cap rising by ₹72,072.3 crore to reach ₹8,20,672.70 crore. This surge followed the company’s announcement of a 4.61% year-on-year increase in consolidated profit for the June quarter, reassuring investors that demand affected by the West Asia crisis would improve in the current quarter.

ICICI Bank’s market cap increased by ₹29,062.06 crore, bringing it to ₹10,34,441.77 crore. Reliance Industries also saw a rise, with its market cap growing by ₹23,884.93 crore, resulting in a valuation of ₹17,95,091.26 crore.

Bajaj Finance’s market cap climbed by ₹21,946.2 crore to reach ₹6,57,274.28 crore, while State Bank of India (SBI) saw an increase of ₹7,338.34 crore, bringing its market cap to ₹9,63,768.78 crore.

Conversely, Larsen & Toubro (L&T) experienced a decline in market cap by ₹18,097.72 crore, now standing at ₹5,24,840.68 crore. Life Insurance Corporation (LIC) also saw a drop of ₹12,080.75 crore, reducing its market cap to ₹5,48,124.30 crore.

Bharti Airtel’s market cap fell by ₹7,706.45 crore to ₹11,91,067.77 crore, while HDFC Bank’s valuation decreased by ₹7,084.61 crore, resulting in a market capitalization of ₹12,62,369.81 crore. Hindustan Unilever’s valuation also saw a slight dip of ₹1,221.79 crore, bringing it down to ₹5,03,775.86 crore.

By the end of the week, Reliance Industries maintained its position as the most valued listed company in India, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, LIC, L&T, and Hindustan Unilever.

Overall, the past week has been profitable for the Indian stock market. The Sensex rose by 582.06 points or 0.75% to close at 78,151.45, while the Nifty increased by 127.40 points or 0.53% to finish at 24,334.30.

During the trading session from July 13-17, the Nifty IT index was the top gainer, rising by 4.34%. Other sectors that performed well included Nifty Consumer Durables (up 3.11%), Nifty Media (up 2.50%), Nifty Private Bank (up 1.51%), Nifty Oil and Gas (up 1.08%), Nifty Auto (up 0.89%), Nifty Services (up 0.87%), Nifty PSU (up 0.28%), and Nifty Energy (up 0.09%).