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Eight top 10 firms add Rs 1.76 lakh crore to market cap; Reliance leads the charge

Reliance Industries Ltd (RIL) was the star performer in the top-10 list, as its market valuation zoomed Rs 1,08,213.62 crore to Rs 11,15,418.03 crore during the week

twitter-logoPTI | June 21, 2020 | Updated 12:55 IST
Eight top 10 firms add Rs 1.76 lakh crore to market cap; Reliance leads the charge
Mukesh Ambani, Chairman and Managing Director of Reliance Industries

Eight of the 10 most valued Indian companies together added Rs 1,76,489.28 crore in market capitalisation last week, with Reliance Industries accounting for the lion's share of the gains.

The BSE Sensex rallied 950.85 points or 2.81 per cent last week.

Reliance Industries Ltd (RIL) was the star performer in the top-10 list, as its market valuation zoomed Rs 1,08,213.62 crore to Rs 11,15,418.03 crore during the week.

It became the first Indian company to cross the Rs 11 lakh crore market valuation mark on Friday after Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free.

The other major gainer was HDFC Bank, whose valuation jumped Rs 27,788.22 crore to reach Rs 5,67,093.60 crore.

The market capitalisation of ICICI Bank climbed Rs 12,729.16 crore to Rs 2,35,648.10 crore and that of HDFC rose by Rs 8,110.36 crore to Rs 3,18,597.21 crore.

Bharti Airtel's valuation surged Rs 6,301.17 crore to Rs 3,11,757.83 crore and that of Infosys advanced Rs 5,771.09 crore to Rs 3,00,543.95 crore.

The market valuation of Kotak Mahindra Bank jumped Rs 4,442.42 crore to Rs 2,57,640.33 crore and that of Tata Consultancy Services increased by Rs 3,133.24 crore to reach Rs 7,68,131.91 crore.

In contrast, ITC's valuation tumbled by Rs 12,169.31 crore to Rs 2,26,299.98 crore and that of Hindustan Unilever Limited dipped Rs 3,277.62 crore to Rs 4,91,584.61 crore.

In the ranking of top-10 firms, Reliance Industries maintained its numero uno position, followed by TCS, HDFC Bank, HUL, HDFC, Bharti Airtel, Infosys, Kotak Mahindra Bank, ICICI Bank and ITC.

Also read: Coronavirus cure: Gilead signs pacts with 4 more firms for manufacturing of remdesivir

Also Read: RIL share hits all-time high after firm becomes net debt-free ahead of target

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