EQUITY MARKETS
TCS leads Rs 3.65 lakh crore valuation gain at nine top firms
Nine of India's 10 most valued companies added a combined Rs 3.65 lakh crore in market capitalisation last week. TCS posted the largest increase, followed by Bharti Airtel and Infosys, while Larsen & Toubro was the only decliner.
BharatVox ·
Nine of India's 10 most valued companies gained a combined Rs 3.65 lakh crore in market capitalisation last week, led by Tata Consultancy Services (TCS), Bharti Airtel and Infosys, Economic Times Markets reported on October 18. Larsen & Toubro was the only company in the group to lose market value.
The gains accompanied a strong week for benchmark indices: the BSE Sensex climbed 2,256.94 points, or 3.11%, while the NSE Nifty rose 625.7 points, or 2.77%. Both recorded their strongest weekly performance in approximately six months.
Ponmudi R, chief executive of trading and wealth-tech firm Enrich Money, attributed the rally mainly to a rebound in information technology shares after encouraging September-quarter earnings, alongside renewed buying in several heavyweight stocks.
BharatVox Graphic
Largest weekly market-value gains
Largest increase among the top 10 companies; amounts in rupees.
Second-largest market-capitalisation increase in the group.
Third-largest increase during the week.
Remained India's most valued company.
TCS posts the biggest increase
TCS added Rs 1,08,542.63 crore in market value, taking its capitalisation to Rs 8,91,134.96 crore. Bharti Airtel gained Rs 61,406.53 crore to reach Rs 11,88,815.45 crore, while Infosys added Rs 55,893.05 crore to finish at Rs 4,71,409.41 crore.
Reliance Industries gained Rs 53,047.56 crore, lifting its valuation to Rs 16,37,437.19 crore and retaining its position as India's most valued company. Bharti Airtel and HDFC Bank followed it in the ranking.
Financial firms gain; Larsen & Toubro slips
HDFC Bank's market capitalisation increased by Rs 32,379.05 crore to Rs 11,22,628.07 crore. ICICI Bank added Rs 30,769.95 crore to reach Rs 10,02,871.44 crore.
Bajaj Finance gained Rs 14,786.65 crore to Rs 6,11,326.72 crore, while Life Insurance Corporation of India added Rs 4,933.5 crore to reach Rs 5,02,204.82 crore. State Bank of India's valuation rose by Rs 3,323.07 crore to Rs 8,87,722.84 crore.
Larsen & Toubro moved in the opposite direction, losing Rs 9,232.26 crore in market value to stand at Rs 4,99,725.06 crore. The Rs 3.65 lakh crore headline figure represents the combined increase at the nine gainers, rather than the net change across all 10 companies.
Who's who
Ponmudi R
Chief executive of Enrich Money; attributed the rally to an IT-stock rebound and buying in heavyweight shares
Fact-check this story · Source: Economic Times Markets: Mcap of nine of top-10 most valued firms surges by Rs 3.65 lakh cr; TCS shines. This AI-assisted account is based on the linked source, not independent on-the-ground reporting by BharatVox. Any opinion is separately labelled.
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