Market valuation of four of top-10 most valued firms jumps Rs 1 lakh cr; LIC biggest gainer

New Delhi: The combined market valuation of four of the top-10 most valued firms jumped Rs 1,01,369.5 crore last week, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer, in an otherwise sluggish trend in equities. Last week, the BSE benchmark declined 270.07 points or 0.33 per cent. While HDFC Bank, Bharti Airtel, State Bank of India and LIC were the gainers in terms of addition to their market valuation, Reliance Industries Ltd, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Bajaj Finance and Hindustan Unilever Ltd faced a combined erosion of Rs 34,852.35 crore on the other hand.

The market valuation of LIC surged Rs 59,233.61 crore to Rs 6,03,120.16 crore, the most among the top-10 firms. State Bank of India added Rs 19,589.54 crore to Rs 7,25,036.13 crore in its valuation. The market capitalisation (mcap) of Bharti Airtel jumped Rs 14,084.2 crore to Rs 10,58,766.92 crore and that of HDFC Bank climbed Rs 8,462.15 crore to Rs 14,89,185.62 crore. However, the mcap of TCS tumbled Rs 17,909.53 crore to Rs 12,53,486.42 crore. The valuation of Reliance Industries tanked Rs 7,645.85 crore to Rs 19,22,693.71 crore. The mcap of Bajaj Finance dropped by Rs 4,061.05 crore to Rs 5,70,146.49 crore and that of ICICI Bank declined by Rs 2,605.81 crore to Rs 10,31,262.20 crore. The valuation of Hindustan Unilever Ltd diminished by Rs 1,973.66 crore to Rs 5,52,001.22 crore and that of Infosys dived Rs 656.45 crore to Rs 6,49,220.46 crore. Reliance Industries remained the most valued firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.