HDFC and LIC Lead Gains in Market Value Among Top Indian Firms

In a recent assessment of India's highest-valued companies, HDFC Bank and the Life Insurance Corporation of India (LIC) have emerged as the main beneficiaries of an increase in market capitalization. Last week, the combined market valuation of seven out of the top ten most valued firms saw a significant surge, amounting to a total rise of RS 3.04 lakh crore. The equity market's buoyant mood played a pivotal role in this upward trend.

Equity Market Surge

Throughout the previous week, the Bombay Stock Exchange (BSE) benchmark index rose sharply by 2,344.41 points, which translates to an increase of 3.47%. The BSE Sensex, encompassing 30 shares, reached a new high by the week's close, adding 303.91 points, or 0.44%, to settle at 69,825.60, briefly touching an intra-day peak of 69,893.80.

Top Performers in Market Cap Growth

HDFC Bank's market valuation witnessed a substantial increase of Rs 74,076.15 crore, reaching Rs 12.54 lakh crore. Similarly, LIC's capitalization rose by Rs 65,558.6 crore to close at Rs 4.89 lakh crore, having briefly recaptured the Rs 5 lakh crore mark during the week. Other notable firms such as ICICI Bank, Tata Consultancy Services (TCS), and Reliance Industries also experienced growth in their market caps. Specifically, ICICI Bank added Rs 45,466.21 crore to reach Rs 7.08 lakh crore, while TCS's market value swelled by Rs 42,737.72 crore to Rs 13.26 lakh crore, and Reliance Industries' valuation grew by Rs 42,454.66 crore, hitting Rs 16.61 lakh crore.

The State Bank of India and Infosys also joined the league of gainers, with their valuations increasing by Rs 37,617.24 crore and Rs 15,916.92 crore respectively.

Rankings and Valuation Changes

Despite the general upswing, some companies did see a decline in their market capitalization. Hindustan Unilever Ltd. lost Rs 9,844.79 crore in market value, and Bharti Airtel's valuation decreased by Rs 8,569.98 crore. Furthermore, ITC Ltd.'s market cap dipped by Rs 935.48 crore.

In terms of valuation rankings among the top ten firms, Reliance Industries maintained its position as the most valued company, followed in order by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever Ltd, Bharti Airtel, ITC, State Bank of India, and LIC.

HDFC, LIC, Valuation