In a week marked by overall market weakness, a select group of India's corporate giants demonstrated remarkable resilience. The combined market valuation of six out of the nation's ten most-valued companies soared by a staggering Rs 75,256.97 crore, even as the broader equity indices closed in the red.
Market Contrast: Benchmark Falls While Heavyweights Rise
The past trading week saw the BSE benchmark index decline by 338.3 points, or 0.39 per cent. This downward trend, however, did not deter investor confidence in several heavyweight stocks. While the market breadth was negative, specific leaders from the technology, banking, and infrastructure sectors managed to post significant gains in their market capitalisation.
The companies that bucked the trend and ended the week with higher valuations were Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS), State Bank of India (SBI), Infosys, and Larsen & Toubro (L&T). On the flip side, HDFC Bank, ICICI Bank, Bajaj Finance, and Life Insurance Corporation of India (LIC) witnessed a contraction in their market value during the same period.
Detailed Breakdown of Valuation Gains
The information technology titans led the charge. Tata Consultancy Services (TCS) saw the most substantial jump, with its market value surging by Rs 22,594.96 crore to reach Rs 11,87,673.41 crore. Its peer, Infosys, followed closely, adding Rs 16,971.64 crore to achieve a market capitalisation of Rs 6,81,192.22 crore.
The state-owned banking behemoth, State Bank of India (SBI), was not far behind. It bolstered its valuation by Rs 15,922.81 crore, taking it to Rs 9,04,738.98 crore. The country's most-valued firm, Reliance Industries, strengthened its position further with an increase of Rs 12,314.55 crore, elevating its market cap to Rs 21,17,967.29 crore.
Bharti Airtel's worth climbed by Rs 7,384.23 crore to Rs 11,95,332.34 crore, while engineering major Larsen & Toubro registered a marginal gain of Rs 68.78 crore, settling at Rs 5,60,439.16 crore.
The Other Side: Companies That Faced Valuation Erosion
Contrasting this positive momentum, the week was challenging for other top contenders. HDFC Bank experienced the sharpest decline, with its market value plummeting by Rs 21,920.08 crore to Rs 15,16,638.63 crore. The newly listed insurance giant, LIC, saw its valuation slip by Rs 9,614 crore to Rs 5,39,206.05 crore.
Furthermore, ICICI Bank's market capitalisation decreased by Rs 8,427.61 crore to Rs 9,68,240.54 crore, and Bajaj Finance witnessed a dip of Rs 5,880.25 crore, bringing its valuation down to Rs 6,27,226.44 crore.
At the end of the volatile week, the ranking of India's most-valued companies stood with Reliance Industries at the pinnacle. It was followed by HDFC Bank, Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro, and LIC.
