Three Top Firms See Market Cap Jump by ₹75,855 Crore

The combined market valuation of three of the top-10 most valued firms jumped ₹75,855.43 crore in a holiday-shortened last week, with State Bank of India and Infosys emerging as the biggest gainers, in an otherwise sluggish trend in equities. Last week, the BSE benchmark Sensex dipped 5.89 points, and the NSE Nifty went up by 11.05 points. While ICICI Bank, State Bank of India and Infosys were the gainers, Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Bajaj Finance, Hindustan Unilever and Larsen & Toubro faced a combined erosion of ₹75,549.89 crore from their valuation. The combined erosion of these seven firms was less than the total m-cap addition of Rs 75,855.43 crore of the three companies - ICICI Bank, State Bank of India and Infosys. SBI's market valuation jumped ₹39,045.51 crore to ₹9,62,107.27 crore, becoming the biggest gainer. The market capitalisation (mcap) of Infosys surged ₹31,014.59 crore to ₹7,01,889.59 crore. ICICI Bank added ₹5,795.33 crore taking its valuation to ₹10,09,470.28 crore. However, the mcap of Reliance Industries tumbled ₹23,952.48 crore to ₹19,72,493.21 crore. The market valuation of Larsen & Toubro dropped by ₹23,501.8 crore to ₹5,30,410.23 crore. HDFC Bank's valuation eroded by ₹11,615.35 crore to ₹14,32,534.91 crore and that of Bharti Airtel tanked ₹6,443.38 crore to ₹11,49,544.43 crore. The mcap of Bajaj Finance declined by ₹6,253.59 crore to ₹5,91,447.16 crore and that of Hindustan Unilever diminished by ₹3,312.93 crore to ₹5,54,421.30 crore. The valuation of TCS dipped by ₹470.36 crore to ₹11,60,212.12 crore. Reliance Industries remained the most valued domestic firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and Larsen & Toubro.