Nine most-valued companies add Rs 2.29 lakh crore in overall valuation, LIC sees most gain 

The combined market valuation of nine of the top-10 most valued firms surged Rs 2.29 lakh crore last week, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer, in tandem with a rally in benchmark indices. 

Last week, BSE benchmark Sensex jumped 685.68 points or 0.86 percent and NSE Nifty climbed 223.85 points or 0.93 percent. 

The valuation of the country’s largest insurer LIC jumped Rs 60,656.72 crore to Rs 6,23,202.02 crore, the most among the top-10 firms. 

HDFC Bank, the country’s largest private lender, added Rs 39,513.97 crore, taking its valuation to Rs 13,73,932.11 crore. 

The market valuation of oil-to-telecom conglomerate Reliance Industries (RIL) surged Rs 35,860.79 crore to Rs 17,48,991.54 crore.  

The country’s second largest telecom operator, Bharti Airtel, soared Rs 32,657.06 crore to Rs 9,26,725.90 crore. 

State Bank of India’s saw its market capitalisation (m-cap) climb by Rs 20,482 crore to Rs 7,48,775.62 crore, ICICI Bank’s valuation soared by Rs 15,858.02 crore to Rs 9,17,724.24 crore. 

FMCG major Hindustan Unilever’s (HUL) valuation went up by Rs 11,947.67 crore to Rs 5,86,516.72 crore.

IT bellwether Tata Consultancy Services (TCS) recorded a Rs 10,058.28 crore jump in its market valuation taking the tally at Rs 15,46,207.79 crore. 

The m-cap of ITC went up by Rs 2,555.35 crore to Rs 5,96,828.28 crore. 

The only laggard from the top-10 group, IT major Infosys saw its m-cap slump by Rs 18,477.5 crore to Rs 7,71,674.33 crore. 

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

Meanwhile, there is no ease in relentless FPI outflows in the domestic stock market, with provisional figures for November 28 suggesting Rs 11,756.25 crore selloff by foreign investors in a single trading session. Data available with NSDL showed FPI flows have turned negative for Calendar 2024 now, with net Rs 6,486 crore outflows.