Mumbai: The combined market capitalization of 8 out of the 10 most-valued companies in India jumped by Rs 88,085.89 crore. This increase comes in line with a positive shift in equity markets, as reflected by the BSE Sensex’s jump of 509.41 points or 0.66% last week. Top gainers were HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Hindustan Unilever and ITC.
Market capitalisation or ‘market cap’ is a measure used to evaluate the total value of a publicly traded company. It is calculated by multiplying the current share price of the company by the total number of outstanding shares. In essence, market capitalisation represents the theoretical value of a company.
Among these companies, HDFC Bank led the list. The private secotr lender added Rs 44,933.62 crore to its market capitalization to Rs 13,99,208.73 crore. The State Bank of India’s market capitalization also jumped by Rs 16,599.79 crore to Rs 6,88,623.68 crore.
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TCS’s valuation rose by Rs 9,063.31 crore to Rs 13,04,121.56 crore while ICICI Bank’s rose by Rs 5,140.15 crore to Rs 9,52,768.61 crore. ITC and Hindustan Unilever also witnessed massive gains with their valuations rising by Rs 5,032.59 crore and Rs 2,796.01 crore respectively.
Bharti Airtel’s market valuation jumped by Rs 2,651.48 crore to Rs 9,87,005.92 crore and Bajaj Finance’s market capitalization increased by Rs 1,868.94 crore to a record Rs 5,54,715.12 crore last week.
Despite the overall positive trend among most top firms, two companies witnessed a dip in their respective market valuations last week. Reliance Industries’s valuation fell by Rs 1,962.2 crore to Rs 17,25,377.54 crore while Infosys’s valuation took a hit of Rs 9,135.89 crore, bringing it down to Rs 6,52,228.49 crore.
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