6 of top 10 most valued firms together add over Rs 1 lakh cr in m-cap; ICICI Bank tops chart

PTI, Aug 30, 2020, 11:59 AM IST

New Delhi: The market valuation of six of the top 10 most valued firms zoomed by Rs 1,06,523.84 crore last week, with ICICI Bank and Kotak Mahindra Bank leading the pack.

During the last week, the BSE benchmark Sensex had gained 1,032.59 points or 2.68 per cent.

Of these 10 most valued companies in terms of market capitalisation (m-cap), Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Kotak Mahindra Bank, Bharti Airtel and ICICI Bank emerged as gainers.

On the other hand, four firms Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL), Infosys and ITC ended the week with losses.

The market valuation of ICICI Bank jumped by Rs 26,620.32 crore to Rs 2,82,550.05 crore, becoming the biggest gainer.

Kotak Mahindra Bank’s m-cap rose by Rs 25,360.91 crore to Rs 2,90,458.09 crore, RIL”s valuation was up by Rs 21,458.89 crore at Rs 13,41,164.42 crore and HDFC Bank”s worth increased by Rs 16,547.52 crore to Rs 6,13,598.67 crore.

Among other two gainers, HDFC saw its market valuation rise by Rs 14,599.47 crore to Rs 3,37,472.45 crore and Bharti Airtel added Rs 1,936.73 crore to Rs 2,85,625.71 crore.

In contrast, the market cap of HUL plunged by Rs 11,982.71 crore to Rs 5,05,658.41 crore.

Infosys witnessed an erosion of Rs 5,963.14 crore to Rs 3,98,188.66 crore from its valuation and TCS took a hit of Rs 4,165.15 crore to see its market cap at Rs 8,39,445.98 crore.

The valuation of ITC also declined by Rs 1,661.13 crore to Rs 2,40,619 crore.

In the ranking of ten most valued firms at the close of the trading week on Friday, RIL held the numero uno position followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank, Bharti Airtel, ICICI Bank and ITC.