The country’s 10 most valued firms added nearly Rs 29,000 crore to their market capitalisation (m-cap) last week, with Bharti Airtel alone accounting for nearly half the valuation.
Private sector telecom services provider Bharti Airtel added Rs 13,164 crore to its m-cap during the week, taking its valuation to Rs 1,41,931 crore. Last week, it had a market valuation of Rs 1,28,767 crore.
Shares of Bharti Airtel surged over 10 per cent in a week to settle at Rs 747.70 on the Bombay Stock Exchange. The top-10 firms, comprising four private and six public sector entities, added Rs 28,939 crore to their valuation last week, taking the kitty to Rs 12,48,825 crore.
Last week, the club’s valuation was Rs 12,19,886 crore. Mukesh Ambani-led Reliance Industries was the second biggest gainer, adding Rs 10,552 crore to its m-cap. During the week, RIL announced its fourth quarter results, a 9.3 per cent decline in its net profit at Rs 3,546 crore.