TCS Leads As Five Of India’s Top 10 Firms Add Rs 1.54 Lakh Crore In Market Value

Five of India’s 10 most-valued companies together added Rs 1.54 lakh crore to their market valuation last week, led by Tata Consultancy Services (TCS), as domestic equity markets ended the week on a positive note.

The benchmark Sensex gained 582.06 points, or 0.75 per cent, during the week, while the Nifty advanced 127.4 points, or 0.52 per cent.

Among the top-10 companies by market capitalisation, Reliance Industries, ICICI Bank, State Bank of India (SBI), TCS, and Bajaj Finance posted gains in their valuations.

In contrast, HDFC Bank, Bharti Airtel, Life Insurance Corporation of India (LIC), Larsen & Toubro (L&T), and Hindustan Unilever recorded declines.

TCS emerged as the biggest wealth creator, with its market capitalisation rising by Rs 72,072.3 crore to Rs 8,20,672.70 crore.

The rally followed the IT major’s June-quarter results, which showed a 4.61 per cent year-on-year increase in consolidated net profit to Rs 13,349 crore, alongside expectations of improved demand after disruptions caused by the West Asia crisis.

ICICI Bank added Rs 29,062.06 crore to reach a market capitalisation of Rs 10,34,441.77 crore, while Reliance Industries gained Rs 23,884.93 crore to Rs 17,95,091.26 crore.

Bajaj Finance advanced by Rs 21,946.5 crore and SBI by Rs 7,338.34 crore.

Larsen & Toubro recorded the steepest decline, with its market valuation falling by Rs 18,097.72 crore to Rs 5,24,840.68 crore.

LIC lost Rs 12,080.75 crore, while Bharti Airtel, HDFC Bank and Hindustan Unilever also witnessed declines.

Reliance Industries remained India’s most-valued listed company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever.

Also Read: Gautam Adani Congratulates Skyroot Aerospace On Successful Vikram-1 Launch