Six of top 10 companies add Rs 1.56 lakh crore to market cap

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The combined market valuation of six of the 10 most valued companies surged by Rs 1,56,247.35 crore last week, with Reliance Industries Ltd (RIL) emerging as the biggest gainer.

While RIL, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, HDFC and Bajaj Finance saw gains in their market capitalisation (m-cap) in the holiday-shortened week, Infosys, HUL and LIC suffered losses.

Stock markets were closed on Tuesday on account of Muharram. The RIL's valuation zoomed Rs 66,772.08 crore to Rs 17,81,028.47 crore. The m-cap of TCS jumped Rs 12,642.03 crore to Rs 12,44,004.29 crore and that of HDFC Bank advanced by Rs 32,346.90 crore to Rs 8,25,207.35 crore.

The mcap of ICICI Bank went up by Rs 25,467.37 crore to Rs 6,08,729.12 crore and that of HDFC rose by Rs 18,679.93 crore to Rs 4,45,759.90 crore. The market valuation of Bajaj Finance increased by Rs 339.04 crore to Rs 4,42,496.12 crore.

In contrast, the mcap of Infosys declined by Rs 9,262.29 crore to Rs 6,70,920.64 crore. HUL lost Rs 11,454.26 crore to Rs 6,09,765.92 crore in its valuation and LIC saw an erosion of Rs 3,289.00 crore to Rs 4,31,459.72 crore. The mcap of SBI was unchanged at Rs 4,73,584.52 crore.

In the ranking of top-10 firms, Reliance Industries retained the title of the most valued domestic company, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, SBI, HDFC, Bajaj Finance and LIC.

Last week, the key benchmark indices registered their fourth straight week of gains as Sensex rose by 1,074 per cent or 1.83 per cent and Nifty by 300 points or 1.95 per cent on a weekly basis.