- Date : 24/07/2023
- Read: 3 mins
Here’s what you need to know about the companies that gained in market valuation last week, and what it means for them. Read on!
A lot keeps happening when it comes to the economy and company valuation, each day. And this means growth and decline in numbers, which also add on to the total value of these companies. A significant change in company valuations was noticed last week, which is quite the news currently.
In this article, we will focus on the top companies that added a significant amount in the mcap.
- How has HDFC gained mcap and surpassed Tata Consultancy Services?
- Understanding the mcap of the top ten companies in India.
- Overview of the market capitalisation of companies that gained significantly last week.
What is the news?
Last week witnessed substantial market valuation growth for five out of the top ten most valuable companies, as they collectively saw their worth increase by INR 4,23,014.4 crore. The primary contributor to this surge was HDFC Bank, which successfully concluded its merger with its mortgage financier parent, HDFC.
As a result of this merger-driven boost, HDFC Bank surpassed Tata Consultancy Services, an IT giant, on Thursday, securing the second position among the most valuable corporations based on market capitalization.
During the same week, the 30-share BSE Sensex displayed a positive trend, with a rise of 623.36 points or 0.94%.
MCAP growth for some companies
State Bank of India (SBI) witnessed a significant surge in market capitalisation (mcap) last week, with an impressive increase of INR 27,220.07 crore, bringing its total mcap to INR 5,48,819.01 crore. ICICI Bank's market valuation saw a substantial jump of INR 24,575.78 crore, reaching INR 6,97,413.50 crore.
Also, Tata Consultancy Services (TCS) experienced noteworthy growth, adding INR 21,972.81 crore to its market valuation, which now stands at INR 6,09,924.24 crore.
The impact on others
There was a significant impact on other companies. So, Hindustan Unilever's market capitalisation declined by INR 17,163.77 crore, resulting in a total market value of INR 6,11,786.57 crore. Similarly, Bharti Airtel's market capitalisation decreased by INR 390.94 crore, reaching a market value of INR 4,94,726 crore.
- HDFC Bank's market cap increased by INR 3,43,107.78 crore.
- SBI's wealth rallied by INR 27,220.07 crore.
- ICICI Bank's valuation surged by INR 24,575.78 crore.
- ITC's wealth soared by INR 21,972.81 crore.
- Bajaj Finance added INR 6,137.96 crore to its market value.
- RIL's m-cap plummeted by INR 1,37,138.56 crore.
- TCS' valuation eroded by INR 52,104.89 crore.
- Infosys' wealth plunged by INR 39,406.08 crore.
- Hindustan Unilever's kitty tumbled by INR 17,163.77 crore.
- Bharti Airtel's market valuation dropped by INR 390.94 crore.
The ranking of the top-10 firms remained as follows: Reliance retained its position as the most valued company, followed by HDFC Bank, TCS, ICICI Bank, Hindustan Unilever, ITC, Infosys, State Bank of India, Bharti Airtel, and Bajaj Finance. These firms collectively added Rs 4.23 lakh crore in market capitalisation.
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