Seven top firms add Rs 1.72 lakh crore in market capitalisation, TCS steals the show with biggest gain 

The combined market valuation of seven of the top-10 most valued firms jumped Rs 1,72,225.62 crore last week, with IT bellwether Tata Consultancy Services (TCS) stealing the show, amid a rally in equities. 

Last week, the BSE benchmark jumped 522.74 points, or 0.65 percent. The 30-share BSE Sensex jumped 622 points, or 0.78 percent, to settle at a record closing level of 80,519.34 on July 12. On intra-day basis, it zoomed 996.17 points, or 1.24 percent, to hit an all-time high of 80,893.51. 

The market capitalisation of TCS surged by Rs 62,393.92 crore to Rs 1,514,133.45 crore. Shares of TCS surged by nearly 7 percent at the end of trading day on July 12 after the country’s largest IT services player reported an 8.7 percent growth in its Q1 net profit at Rs 12,040 crore. 

FMCG major, ITC, added Rs 31,858.83 crore in its mcap taking its valuation to Rs 573,258.78 crore. 

The valuation of Infosys zoomed Rs 26,905.14 crore to Rs 710,827.27 crore. The country’s largest public sector insurer, Life Insurance Corporation of India (LIC), added Rs 22,422.12 crore to its overall valuation of Rs 664,947.01 crore. 

Hindustan Unilever’s market valuation also jumped by Rs 17,668.92 crore to Rs 616,156.81 crore, while oil-to-telecom conglomerate Reliance Industries (RIL) saw its m-cap soar to Rs 2,160,628.75 crore with an addition of Rs 9,066.19 crore. 

The m-cap of the country’s second largest telecom player Bharti Airtel climbed Rs 1,910.5 crore to Rs 815,705.36 crore. 

However, the valuation of HDFC Bank, the country’s largest private sector lender, got eroded by Rs 18,069.29 crore to Rs 1,235,825.35 crore. 

Its peer in the sector, State Bank of India also saw a decline of Rs 356.99 crore in m-cap to Rs 767,204.26 crore, while ICICI Bank lost Rs 210.5 crore in valuation to Rs 867,668.16 crore. 

RIL retained the title of the most valued firm followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.