📷 Image Credits: Mint
The week saw a substantial increase in the combined market capitalization of seven of India’s top 10 most valued firms, rising by ₹1,72,225.62 crore. TCS emerged as the leader of this surge, driven by a bullish equity market. The BSE benchmark climbed by 522.74 points, marking a 0.65% increase, with the Sensex reaching a record closing level of 80,519.34 on Friday. Peaking at 80,893.51 during intraday trading, the Sensex surged by 996.17 points or 1.24%. TCS witnessed a notable increase in its market capitalization by ₹62,393.92 crore, reaching ₹15,14,133.45 crore after its shares soared nearly 7% on Friday, following an 8.7% growth in net profit to ₹12,040 crore for the June quarter. Other firms like ITC, Infosys, LIC, Hindustan Unilever, and Reliance Industries also saw significant gains in market valuation. On the flip side, HDFC Bank, SBI, and ICICI Bank experienced declines in valuation. Reliance Industries maintained its position as the most valued firm, with TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, Infosys, LIC, Hindustan Unilever, and ITC following suit.
