Did Seven of the Top 10 Firms Add Rs 2.16 Lakh Crore in Market Value?

Synopsis
Key Takeaways
- Seven out of the top ten firms in India have seen a significant increase in market value.
- Bharti Airtel led the surge with a remarkable addition of ₹41,254.73 crore.
- The BSE Sensex recorded a notable rise of 1,451.37 points.
- While some firms declined, the overall trend remains positive.
- The increase signals renewed investor confidence and robust corporate earnings.
Mumbai, Oct 19 (NationPress) The collective market valuation of seven of India’s top 10 most valued companies increased by Rs 2.16 lakh crore last week, primarily driven by significant gains in Bharti Airtel and other major stocks.
This surge aligned with a positive trend in the broader market, as the BSE Sensex soared by 1,451.37 points, or 1.75 percent, during the week.
Among the leading firms, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, and Hindustan Unilever reported increases in their market capitalisation.
Conversely, Tata Consultancy Services (TCS), Infosys, and Life Insurance Corporation of India (LIC) experienced declines in their valuations.
Bharti Airtel achieved remarkable growth, adding Rs 41,254.73 crore to reach a valuation of Rs 11.47 lakh crore.
ICICI Bank saw its market capitalisation surge by Rs 40,123.88 crore to Rs 10,26,491.35 crore, while HDFC Bank gained Rs 33,185.59 crore, raising its valuation to Rs 15,40,210.78 crore.
Bajaj Finance’s valuation also climbed significantly by Rs 28,903.45 crore to Rs 6,65,899.19 crore.
Hindustan Unilever saw its market value rise by Rs 17,774.65 crore to Rs 6.12 lakh crore, and State Bank of India added Rs 7,938.34 crore to reach Rs 8.21 lakh crore.
On the downside, Infosys’ valuation declined by Rs 30,306.35 crore to Rs 5.99 lakh crore, while TCS fell by Rs 23,807.01 crore to Rs 10.72 lakh crore.
LIC also saw a decrease in market capitalisation by Rs 7,684.87 crore to Rs 5.60 lakh crore.
The most valued companies in the nation include HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Hindustan Unilever, Infosys, and LIC.
Analysts noted that the increase in market valuations signifies a resurgence in investor confidence, bolstered by robust corporate earnings and an optimistic outlook in equities.