Infosys topples HDFC Bank as third most valued firm in market value

IT major Infosys has surpassed private sector lender HDFC Bank, becoming the third most valued Indian firm in terms of market valuation, with TCS leading the top 10 companies chart, followed by RIL.

A rally in the stock market past week saw the combined market valuation of top eight Sensex companies surge by Rs 50,464.51 crore.

HDFC Bank came behind Infosys in the ranking of top-10 companies last week.

At the end of the week, Infosys commanded a market valuation of Rs 2,69,489.03 crore. This was Rs 432.68 crore more than HDFC Bank's m-cap of Rs 2,69,056.35 crore.

During the past week, the market valuation of Infosys surged by Rs 7,315.77 crore to Rs 2,69,489.03 crore and HDFC Bank added Rs 4,570.52 crore to Rs 2,69,056.35 crore.

Shares of Infosys touched its one-year high level of Rs 1,197 apiece on Thursday.

TCS (Tata Consultancy Services) emerged as the biggest gainer among the top 10 firms, with its valuation soaring by Rs 12,555.44 crore to Rs 5,17,045.42 crore.

The m-cap of RIL (Reliance Industries) zoomed by Rs 7,901.76 crore to Rs 2,79,249.60 crore and CIL added Rs 6,063.71 crore to Rs 2,07,303.08 crore.

ITC's valuation climbed Rs 4,936.3 crore to Rs 2,63,911.16 crore.