Market Capitalization: 5 companies lost Rs 76,098.67 crore even in the stock market boom, Reliance made bumper earnings
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Market Capitalization: A mixed phase was seen in the Indian stock market. From the first trading day of last week till January 12, the Sensex saw a rise of 0.92 percent i.e. 658.14 points. During this period, both the market indices Nifty and Nifty made rising records. The market capitalization (market cap) of five of the top 10 most valuable companies of Sensex increased by Rs 1,99,111.06 crore last week. Reliance Industries was the biggest gainer. While the market valuations of Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Infosys and Bharti Airtel gained during the week, HDFC Bank, Hindustan Unilever, ITC, State Bank of India and Life Insurance Corporation of India (LIC) were among the losers. and there was an overall decline of Rs 76,098.67 crore in their market valuation.
TCS shares rose 4 percent
In this trading week, the market capitalization of Reliance Industries increased by Rs 90,220.4 crore to Rs 18,53,865.17 crore. There was a jump of Rs 52,672.04 crore in the valuation of TCS and it stood at Rs 14,20,333.97 crore. Shares of Tata Consultancy Services rose almost four percent on Friday. The company’s net profit for December quarter stood at Rs 11,735 crore with an increase of 8.2 percent. Infosys’ market cap increased by Rs 32,913.04 crore to Rs 6,69,135.15 crore during the week. The company’s December quarter results have been in line with market expectations. Due to this, Infosys shares rose by eight percent on Friday. Bharti Airtel’s market valuation increased by Rs 16,452.93 crore to reach Rs 6,05,299.02 crore. The market capitalization of ICICI Bank increased by Rs 6,852.65 crore to Rs 7,04,210.07 crore.
Reliance stood first in earnings
Contrary to this trend, the market capitalization of HDFC Bank declined by Rs 32,609.73 crore to Rs 12,44,825.83 crore. Hindustan Unilever’s valuation declined by Rs 17,633.68 crore to Rs 5,98,029.72 crore. The valuation of LIC declined by Rs 9,519.13 crore to Rs 5,24,563.68 crore and that of ITC fell to Rs 5,82,111.90 crore with a loss of Rs 9,107.19 crore. The market capitalization of State Bank of India (SBI) declined by Rs 7,228.94 crore to Rs 5,65,597.28 crore. Reliance Industries remained at first position in the list of top 10 companies. After that, TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever, ITC, SBI and LIC were ranked respectively.
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