Eight most-valued companies add Rs 1.55 lakh crore in overall valuation; HDFC Bank, TCS top gainers 

Eight of the top-10 most valued domestic firms added Rs 1.55 lakh crore in overall market valuation last week, with HDFC Bank and Tata Consultancy Services (TCS) emerging as the biggest gainers. 

Last week, the BSE benchmark zoomed 1,536.8 points, or 1.98 percent, and the Nifty climbed 374.55 points, or 1.59 percent. The BSE benchmark Sensex jumped 1,961.32 points, or 2.54 percent, to settle at 79,117.11 on November 22. The NSE Nifty soared 557.35 points or, 2.39 percent, to 23,907.25. 

Market sentiment was buoyed by exit polls from the Maharashtra election, indicating a likely victory for the Mahayuti alliance.  

A recovery in several Adani names improved the market sentiment. Stocks also gained as a couple of exit polls and Phalodi Satta Bazar suggested a win for the BJP-led Maha Yuti alliance in Maharashtra. A BJP-led alliance victory would signal policy continuity with emphasis on infrastructure and capex, analysts said.

From the top-10 pack, Reliance Industries and Life Insurance Corporation of India (LIC) were the laggards. 

The market valuation of the country’s largest private lender, HDFC Bank, jumped by Rs 40,392.91 crore to Rs 13,34,418.14 crore, the most among the top-10 firms. 

Tata Consultancy Services (TCS), India’s top IT services firm, added Rs 36,036.15 crore to its valuation taking its overall valuation to Rs 15,36,149.51 crore. 

The valuation of ICICI Bank soared by Rs 16,266.54 crore to Rs 9,01,866.22 crore.  

Another IT bellwether Infosys added Rs 16,189.33 crore to its valuation of Rs 7,90,151.83 crore. 

The market capitalisation (m-cap) of FMCG major Hindustan Unilever (HUL) climbed by Rs 13,239.95 crore to Rs 5,74,569.05 crore. 

ITC saw its m-cap zoom by Rs 11,508.91 crore to Rs 5,94,272.93 crore. 

The country’s second largest telecom player, Bharti Airtel, gained Rs 11,260.11 crore in m-cap to take its valuation to Rs 8,94,068.84 crore.  

State Bank of India, India’s largest public sector lender, gained Rs 10,709.55 crore in its m-cap taking the tally to Rs 7,28,293.62 crore. 

Among the laggards, the valuation of India’s largest insurer LIC slumped by Rs 11,954.24 crore to Rs 5,62,545.30 crore. 

The m-cap of oil-to-telecom conglomerate Reliance Industries (RIL) also dipped by Rs 2,368.16 crore to Rs 17,13,130.75 crore. 

Reliance Industries remained the most valued domestic firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, ITC, Hindustan Unilever and LIC.