Top Nine Firms Gain Rs 2.29 Lakh Crore in Market Valuation, LIC Leads
Despite the ongoing FPI outflows, the combined market valuation of nine of the top-10 most valued companies in India surged by Rs 2,29,589.86 crore last week, with Life Insurance Corporation of India (LIC) leading the gain.
Market ValuationStock MarketTop CompaniesFpi OutflowsBenchmark IndicesReal Estate NewsDec 01, 2024
Life Insurance Corporation of India (LIC), the country’s largest insurer, saw the most significant increase, with its valuation jumping by Rs 60,656.72 crore to Rs 6,23,202.02 crore. HDFC Bank, the largest private lender, added Rs 39,513.97 crore to its valuation, bringing it to Rs 13,73,932.11 crore.
Reliance Industries (RIL), the oil-to-telecom conglomerate, saw its market valuation surge by Rs 35,860.79 crore to Rs 17,48,991.54 crore. Bharti Airtel, the country’s second-largest telecom operator, gained Rs 32,657.06 crore, pushing its valuation to Rs 9,26,725.90 crore. State Bank of India’s market capitalisation (m-cap) climbed by Rs 20,482 crore to Rs 7,48,775.62 crore, and ICICI Bank’s valuation soared by Rs 15,858.02 crore to Rs 9,17,724.24 crore.
Hindustan Unilever (HUL), a major FMCG company, saw its valuation rise by Rs 11,947.67 crore to Rs 5,86,516.72 crore. Tata Consultancy Services (TCS), a leading IT company, recorded a Rs 10,058.28 crore increase in its market valuation, reaching Rs 15,46,207.79 crore. ITC’s m-cap went up by Rs 2,555.35 crore to Rs 5,96,828.28 crore.
However, not all top-10 firms experienced gains. IT major Infosys saw its m-cap decrease by Rs 18,477.5 crore, dropping to Rs 7,71,674.33 crore.
Reliance Industries remained the most valued domestic firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, LIC, ITC, and Hindustan Unilever.
Meanwhile, there is no respite in the relentless Foreign Portfolio Investor (FPI) outflows in the domestic stock market. Provisional figures for November 28 indicate a selloff of Rs 11,756.25 crore by foreign investors in a single trading session. Data from NSDL shows that FPI flows have turned negative for Calendar 2024, with net outflows of Rs 6,486 crore.
Life Insurance Corporation of India (LIC) is the largest insurance company in India, offering a wide range of life insurance products and services. HDFC Bank is one of the leading private sector banks in India, known for its innovative financial solutions and robust customer service. Reliance Industries is a diversified global conglomerate with interests in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Bharti Airtel is a leading telecommunications company in India, providing mobile and fixed broadband services. State Bank of India is the largest bank in India, offering a wide array of financial products and services. ICICI Bank is another major private sector bank in India, known for its technological advancements in banking. Hindustan Unilever (HUL) is a leading consumer goods company in India, known for its diverse portfolio of brands. Tata Consultancy Services (TCS) is a premier global IT services and consulting company. ITC is a diversified conglomerate with interests in FMCG, hotels, and paperboards. Infosys is a global leader in next-generation digital services and consulting.
Frequently Asked Questions
Which company saw the highest gain in market valuation?
Life Insurance Corporation of India (LIC) saw the highest gain in market valuation, with an increase of Rs 60,656.72 crore.
What was the overall increase in the market valuation of the top-10 most valued firms?
The combined market valuation of nine of the top-10 most valued firms increased by Rs 2,29,589.86 crore last week.
How did the BSE Sensex and NSE Nifty perform last week?
The BSE Sensex gained 685.68 points (0.86%) and the NSE Nifty climbed 223.85 points (0.93%) last week.
Which company experienced a decrease in market valuation?
IT major Infosys saw its market valuation decrease by Rs 18,477.5 crore last week.
What is the current trend of FPI outflows in the Indian stock market?
There is no respite in the relentless FPI outflows in the Indian stock market, with provisional figures for November 28 indicating a selloff of Rs 11,756.25 crore by foreign investors in a single trading session.
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