 "HDFC, HDFC Bank")
Five of the top-10 most valued firms together added Rs 4,23,014.4 crore in market valuation last week, with major contributions coming in from HDFC Bank, which recently completed the merger with its mortgage financier parent HDFC.
HDFC Bank on Thursday became the second most valuable company by market capitalisation, overtaking IT behemoth Tata Consultancy Services.
Last week, the 30-share BSE Sensex jumped 623.36 points or 0.94 per cent.
While HDFC Bank, ICICI Bank, ITC, State Bank of India and Bajaj Finance were the gainers, Reliance, Tata Consultancy Services (TCS), Hindustan Unilever, Infosys and Bharti Airtel suffered erosion from their market valuation last week.
HDFC Bank's market valuation jumped Rs 3,43,107.78 crore to reach Rs 12,63,070.52 crore.
The market capitalisation (mcap) of State Bank of India zoomed Rs 27,220.07 crore to Rs 5,48,819.01 crore, and that of ICICI Bank jumped Rs 24,575.78 crore to Rs 6,97,413.50 crore.
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ITC added Rs 21,972.81 crore, taking its valuation to Rs 6,09,924.24 crore.
The mcap of Bajaj Finance climbed Rs 6,137.96 crore to Rs 4,59,425.99 crore.
However, the market valuation of Reliance Industries fell by Rs 1,37,138.56 crore to Rs 17,15,895.17 crore.
Reliance announced the demerger of its financial services undertaking into RSIL (Reliance Strategic Investments Ltd), which was renamed JFSL (Jio Financial Services Ltd).
NSE and BSE conducted a special pre-open session for Reliance Industries Ltd on Thursday on account of the demerger of its financial services business Reliance Strategic Investments Ltd.
Meanwhile, TCS mcap eroded by Rs 52,104.89 crore to Rs 12,32,953.95 crore and that of Infosys declined by Rs 39,406.08 crore to Rs 5,52,141.59 crore.
Shares of Infosys tanked over 8 per cent on Friday after the company reported a lower-than-expected 11 per cent rise in net profit for the June quarter and slashed its FY24 growth outlook.
The valuation of Hindustan Unilever went lower by Rs 17,163.77 crore to Rs 6,11,786.57 crore, and that of Bharti Airtel dipped Rs 390.94 crore to Rs 4,94,726 crore.
In the ranking of top-10 firms, Reliance remained the most valued company, followed by HDFC Bank, TCS, ICICI Bank, Hindustan Unilever, ITC, Infosys, State Bank of India, Bharti Airtel and Bajaj Finance.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
