HDFC, LIC Gain Most As Market Capital Of Seven Most Valued Firms Increases

The combined market valuation of seven of the 10 most valued firms climbed Rs 3.04 lakh crore last week, with HDFC Bank Ltd. and Life Insurance Corp. emerging as the biggest gainers, amid an overall optimistic trend in equities.

Last week, the BSE benchmark rallied 2,344.41 points or 3.47%. On Friday, the 30-share BSE Sensex rose 303.91 points, or 0.44%, to hit its new peak of 69,825.60. The index touched the highest intra-day level of 69,893.80.

HDFC Bank, LIC, ICICI Bank Ltd., Tata Consultancy Services Ltd., and Reliance Industries Ltd. were among the companies that recorded additions in their market valuation.

HDFC Bank's valuation soared by Rs 74,076.15 crore to Rs 12.54 lakh crore.

The market capitalisation of Life Insurance Corporation of India jumped by Rs 65,558.6 crore to Rs 4.89 lakh crore at close on Friday. LIC had reclaimed the Rs 5 lakh crore-mark after the shares of the company hit a 52-week high on the bourse on Thursday.

However, at close, the company's market cap was just short of Rs 5 lakh crore mark.

ICICI Bank's market cap climbed Rs 45,466.21 crore to Rs 7.08 lakh crore.

Tata Consultancy Services' market cap surged Rs 42,737.72 crore to Rs 13.26 lakh crore and that of Reliance Industries' soared Rs 42,454.66 crore to Rs 16.61 lakh crore.

The valuation of State Bank of India rose by Rs 37,617.24 crore to Rs 5.47 lakh crore and that of Infosys Ltd. advanced by Rs 15,916.92 crore to Rs 6.18 lakh crore.

However, the market valuation of Hindustan Unilever Ltd. declined by Rs 9,844.79 crore to Rs 5.92 lakh crore and that of Bharti Airtel Ltd. fell Rs 8,569.98 crore to Rs 5.61 lakh crore.

Also, the market cap of ITC Ltd. declined by Rs 935.48 crore to Rs 5.60 lakh crore.

In the ranking of top-10 firms, Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever Ltd, Bharti Airtel, ITC, State Bank of India, and Life Insurance Corporation of India.