Market valuation of 7 of top-10 most valued firms jump Rs 1.72 lakh cr; TCS steals show

The combined market valuation of seven of the top-10 most valued firms jumped Rs 1,72,225.62 crore last week, with IT bellwether Tata Consultancy Services (TCS) stealing the show, amid a rally in equities. Last week, the BSE benchmark jumped 522.74 points, or 0.65 per cent.

The 30-share BSE Sensex jumped 622 points, or 0.78 per cent, to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points, or 1.24 per cent, to hit an all-time high of 80,893.51.

The market capitalisation (mcap) of TCS surged Rs 62,393.92 crore to Rs 15,14,133.45 crore.

Shares of TCS on Friday surged nearly 7 per cent after the country's largest IT services player reported an 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore.

ITC added Rs 31,858.83 crore taking its valuation to Rs 5,73,258.78 crore.

The mcap of Infosys zoomed Rs 26,905.14 crore to Rs 7,10,827.27 crore and that of Life Insurance Corporation of India (LIC) jumped Rs 22,422.12 crore to Rs 6,64,947.01 crore.

Hindustan Unilever's market valuation rallied Rs 17,668.92 crore to Rs 6,16,156.81 crore and that of Reliance Industries soared Rs 9,066.19 crore to Rs 21,60,628.75 crore.

The mcap of Bharti Airtel climbed Rs 1,910.5 crore to Rs 8,15,705.36 crore.

However, the valuation of HDFC Bank got eroded by Rs 18,069.29 crore to Rs 12,35,825.35 crore.

The mcap of State Bank of India diminished Rs 356.99 crore to Rs 7,67,204.26 crore and that of ICICI Bank declined Rs 210.5 crore to Rs 8,67,668.16 crore.

Reliance Industries retained the title of the most valued firm followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.