Reliance Industries retained its position as India’s most valued listed company, adding ?20,231 crore in market capitalization (mcap) last week to reach ?16.52 lakh crore. Among the top 10 most valued firms, six posted gains, while four saw a decline in their valuations. TCS, HDFC Bank, ICICI Bank, and Bharti Airtel followed Reliance on the list, with valuations of ?15.08 lakh crore, ?13.75 lakh crore, ?9.23 lakh crore, and ?9.11 lakh crore, respectively. The list also included Infosys, SBI, ITC, LIC, and Hindustan Unilever.
HDFC Bank emerged as the biggest gainer, adding ?20,236 crore to its valuation, reaching ?13.75 lakh crore. Reliance Industries followed closely, while ITC saw significant growth, increasing its mcap by ?17,933 crore to approach the ?6 lakh crore mark. ICICI Bank added ?15,254 crore, while Bharti Airtel and Hindustan Unilever posted gains of ?11,948 crore and ?1,245 crore, respectively. On the downside, SBI’s valuation dropped by ?11,557 crore, LIC lost ?8,412 crore, and tech giants Infosys and TCS saw modest declines in their market values.
As 2024 concludes, the Indian stock market has faced volatility, including challenges like foreign institutional investor selloffs. Despite these fluctuations, Reliance Industries has maintained its leadership, followed by strong performances from HDFC Bank and ITC. However, the coming year will test whether these companies can sustain their positions amid dynamic market conditions.
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