The BSE 30-share Sensex was trading 153.91 points higher and touched a lifetime high of 31,885.11 in the afternoon.
Investors have been placing a bullish bet on the stock after the company announced an extension of its Jio Prime membership deadline till April 15.
Going by the deal value of Rs 3874 crore for the 4.9 percent stake from Vodafone to Idea, the combined entity will have market capitalisation of Rs 79,061 crore.
Warren Buffett described the Mcap/GDP ratio as the single best measure of where valuations stand at any given moment.
Thanks to the decisive mandate for Narendra Modi in Uttar Pradesh, the Nifty is set for a two-year closing high. It means that markets have come full circle two years to the month after a similar closing high on March 3, 2015.
The cash outgo will go towards acquiring the government holding as well as buying an additional 26 percent stake in HPCL via an open offer.
The Nifty drifted away from 8950-mark in subdued afternoon trade. Reliance continued to be the top gainer on both the indices, while Axis Bank was a drag.
The total market value of all the companies listed on BSE soared to lifetime high of over Rs 117 lakh crore today on the back of stock market rally.
Seven of the 10 most valued Indian companies saw their combined market valuation swell by Rs 51,613.42 crore last week, with ITC taking the lion's share of gains.
The issue, which was also the first share sale by a domestic stock exchange, was open to bidding on January 23-25. The IPO saw robust investor demand and was oversubscribed 51.22 times.
The combined market valuation of seven of the top-10 most valued Indian companies surged by Rs 37,833.55 crore last week, with HDFC Bank emerging the biggest gainer.
Leading stock exchange BSE today said rebalancing of the indices -- Sensex, BSE 100, BSE 200 and BSE 500 -- will depend on six months reference period from December onwards.
While TCS, RIL, HDFC Bank, ONGC, Infosys, CIL and SBI suffered losses in their market capitalisation (m-cap) for the week ended Friday, ITC, HDFC and HUL on the other hand witnessed gains.
HDFC Bank today briefly toppled Reliance Industries to become the country's second most valuable company in terms of market valuation.
During afternoon trade, the m-cap of BSE-listed firms surged to Rs 1,11,22,815 crore or USD 1.66 trillion.
Driven by strong stock market rally, the total valuation of BSE-listed companies surged to an all-time high of Rs 108 lakh crore today
Investor wealth of BSE-listed firms, measured by market capitalisation, had seen a previous record high of Rs 106.85 lakh crore scaled on April 13, 2015.
India Inc is expected to see a two-year high growth rate of 8 percent in the topline during the first quarter ended June 30, mainly driven by export oriented units like IT sector, Crisil said in a report
The much-awaited Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) are likely to be launched in the country next year, says a study
ICICI Bank has toppled Kotak Mahindra Bank to regain the second most valued private lender in the country as its market valuation rose to Rs 1.31 lakh crore.
AIA said the company's value of new business, which measures expected profits from new premiums and is a key yardstick for growth, rose to USD 578 million in the quarter from USD 425 million a year earlier, on a constant exchange rate basis.
Barring HDFC, rest of the nine companies, including TCS, RIL and ONGC saw a rise in their market capitalisation (m-cap) amid recover in the broader market where the BSE benchmark index Sensex recovered by 723 points or 3.14 percent to end at 23,709.15
Overseas investors have pulled out more than Rs 9,900 crore from the Indian equity markets since the beginning of the month due to global growth concerns and sharp dip in oil prices. Sentiment was hit mostly by renewed global sell-off on worries driven by volatility in crude oil, which slid below USD 28 per barrel
As many as 27 scrips, out of the 30-share Sensex pack, ended lower. The broader markets too came under selling pressure with the mid-cap index falling 1.20 percent and small-cap dropping 1.11 percent.
The group will not shy away from global buyout activity and will continue to make significant investments in both existing as well as new businesses, including in the digital space to meet its vision 2025 targets.