HDFC Bank, ICICI Bank shine as m-cap of three of top-10 most valued firms jumps ₹1.06 lakh crore
The Hindu
Top-10 firms' market valuation shifts: HDFC Bank, ICICI Bank gain, while Reliance, TCS, LIC, ITC face declines.
The combined market valuation of three of the top-10 most valued firms jumped ₹1,06,125.98 crore in holiday-shortened last week, with HDFC Bank and ICICI Bank emerging as the biggest gainers.
The BSE benchmark Sensex climbed 217.13 points or 0.28% last week.
While HDFC Bank, ICICI Bank and Infosys were the gainers from the top-10 pack, Reliance Industries, while Tata Consultancy Services (TCS), Bharti Airtel, State Bank of India, Life Insurance Corporation of India (LIC), Hindustan Unilever and ITC registered declines.
The market capitalisation (m-cap) of HDFC Bank zoomed ₹52,091.56 crore to ₹12,67,056.69 crore. ICICI Bank added ₹36,118.99 crore taking its valuation to ₹8,13,914.89 crore. The m-cap of Infosys climbed ₹17,915.43 crore to ₹6,35,945.80 crore.
The market valuation of Reliance Industries tumbled ₹32,271.31 crore to ₹19,66,686.57 crore. LIC lost ₹27,260.74 crore from its m-cap which stood at ₹6,47,616.51 crore. ITC's valuation eroded ₹Rs 14,357.43 crore to ₹5,23,858.91 crore and that of Hindustan Unilever dropped by ₹8,904.95 crore to ₹5,73,617.46 crore. The m-cap of TCS fell by ₹8,321.6 crore to ₹13,78,111.45 crore and that of Bharti Airtel diminished by ₹7,261.72 crore to ₹8,04,262.65 crore. SBI’s valuation declined by ₹3,391.35 crore to ₹7,46,454.54 crore.
These stocks faced a combined erosion to the tune of ₹1,01,769.1 crore.
In the ranking of the most valued firms, Reliance Industries retained the number one place followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, LIC, Infosys, Hindustan Unilever and ITC.
Rupee trading in narrow range as U.S. dollar strengthens, Brent oil rises amid Ukraine-Russia conflict, FIIs sell equities.
Billionaire Gautam Adani indicted in U.S. for fraud and bribery, facing charges of defrauding American investors.
Air India has signed an agreement with Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), to develop a built-to-suit facility for the AME program that will feature modern classrooms, well-equipped laboratories for practical training and a team of qualified trainers.
Zepto raises $350 million in largest domestic fundraise in India, backed by leading financial institutions and notable individuals.
Adani Enterprises Ltd stock dips on NSE and BSE after Kenyan project cancellations and U.S. court allegations.
HSBC Flash India PMI shows uptick in private sector activity, with rising cost pressures and increased prices for customers.
Rupee rises slightly against US dollar amid geopolitical pressures, foreign outflows, and domestic equities; Brent oil surges.
Sensex and Nifty rebound in early trade driven by value buying, bank stock rally, and positive global cues.
The pandemic-induced downturn marked a turning point for cab drivers in Bengaluru. According to Tanveer Pasha, president, Ola and Uber Drivers’ Association, the number of active cabs in the city has dropped from over 1 lakh before the pandemic to just around 30,000 today.
Amazon will likely face an EU investigation next year into whether it favours its own brand products, said sources.
White House addresses bribery charges against Indian billionaire Adani, expresses confidence in U.S.-India relationship.