Six most-valued companies add Rs 2.03 lakh crore in combined valuation, TCS HDFC Bank top gainers

The combined market valuation of six of the top-10 most-valued firms jumped Rs 2.03 lakh crore last week, with Tata Consultancy Services (TCS) and HDFC Bank emerging the biggest gainers, in-line with an optimistic trend at the Dalal Street. 

Last week, the BSE benchmark jumped 1,906.33 points, or 2.38 percent, and the NSE Nifty climbed 546.7 points, or 2.26 percent. 

The upmove came even as the Reserve Bank of India (RBI) kept key interest rate unchanged due to “high inflation”. The central bank has maintained the key policy repo rate at 6.5 percent. This is for the 11th consecutive time that the RBI has kept the repo rate unchanged. The RBI has maintained the repo rate at 6.5 percent since February 2023. 

While Reliance Industries (RIL), Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Infosys and State Bank of India (SBI) were the winners from the pack, Bharti Airtel, Life Insurance Corporation of India (LIC), ITC and Hindustan Unilever (HUL) emerged the laggards. 

The market valuation of IT behemoth TCS surged Rs 62,574.82 crore to Rs 16,08,782.61 crore. 

The country’s largest private lender, HDFC Bank, added Rs 45,338.17 crore taking its market valuation to Rs 14,19,270.28 crore. 

The valuation of Infosys jumped Rs 26,885.8 crore to Rs 7,98,560.13 crore 

Oil-to-telecom conglomerate Reliance Industries saw its valuation soar by Rs 26,185.14 crore to Rs 17,75,176.68 crore. 

The country’s largest public lender State Bank of India’s market capitalisation (m-cap) climbed by Rs 22,311.55 crore to Rs 7,71,087.17 crore. 

ICICI Bank rallied Rs 19,821.33 crore to Rs 9,37,545.57 crore. 

However, Bharti Airtel’s valuation eroded Rs 16,720.1 crore to Rs 9,10,005.80 crore. 

The m-cap of ITC declined by Rs 7,256.27 crore to Rs 5,89,572.01 crore. 

The market valuation of HUL went lower by Rs 2,843.01 crore to Rs 5,83,673.71 crore. The m-cap of LIC dipped Rs 1,265 crore to Rs 6,21,937.02 crore. 

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