Stocks

3 of 10 most valued companies add Rs 98,622.89 crore in market capitalisation

PTI New Delhi | Updated on July 19, 2020

Seven companies witnessed a decline in their m-cap, but their cumulative loss was less than the total gains made by Reliance Industries, Hindustan Unilever and Infosys.

Three of the 10 most valued companies added a total of ₹98,622.89 crore to their market valuation last week, led by stellar gains in IT major Infosys.

Seven companies from the coveted list witnessed a decline in their market valuation last week, but their cumulative loss of ₹37,701.1 crore was less than the total gains made by three firms: Reliance Industries Limited, Hindustan Unilever Limited and Infosys.

The market capitalisation of Infosys zoomed ₹52,046.87 crore to ₹3,85,027.58 crore. Shares of Infosys had rallied over 9 per cent on Thursday after the company posted a stronger-than-expected 12.4 per cent rise in the first quarter consolidated net profit.

Hindustan Unilever Limited added ₹25,751.07 crore in its market valuation which stood at ₹5,48,232.26 crore at close on Friday. Reliance Industries’ m-cap jumped ₹20,824.95 crore to Rs 12,11,682.08 crore.

The losers

In contrast, HDFC’s valuation plunged Rs 13,920.21 crore to ₹3,13,269.70 crore and that of Tata Consultancy Services (TCS) declined ₹7,617.34 crore to ₹8,26,031.21 crore. The valuation of ICICI Bank tumbled ₹4,205.71 crore to ₹2,29,156.24 crore and that of Kotak Mahindra Bank by ₹4,175.28 crore to Rs 2,62,864.37 crore.

Bharti Airtel’s m-cap dipped ₹4,009.83 crore to ₹3,09,521.05 crore and HDFC Bank’s by ₹3,403.97 crore to ₹6,03,463.97 crore. The valuation of ITC declined by ₹368.76 crore to ₹2,38,469.29 crore.

In the ranking of top-10 firms, RIL was at the number one rank followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank. During the last week, the 30-share BSE index advanced 425.81 points or 1.16 per cent.

Published on July 19, 2020

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