At market closing last week, five out of the ten most valued companies in India together added Rs 65,564.57 crore to their market capitalisation. Reliance Industries Limited (RIL) alone accounted for over Rs 47,000 crore, as it became the first Indian company on 23 August to cross the Rs 8 trillion valuation mark at Rs 8,09,983.34 crore.
Apart from RIL, the other companies that saw a rise in their market capitalisation for the week ended August 24 were Tata Consultancy Services (TCS), Hindustan Unilever (HUL), HDFC and Maruti Suzuki India. At the same time, HDFC Bank, ITC, Infosys, State Bank of India (SBI) and Kotak Mahindra Bank suffered a cumulative loss of Rs 20,260.41 crore.
While RIL was the star performer, TCS added Rs 11,619.72 crore to its valuation to reach Rs 7,81,871.62 crore and HDFC soared by Rs 6,004.20 crore to Rs 3,24,392.15 crore. Maruti's valuation reached Rs 2,76,808.04 crore after an addition of Rs 456.14 crore, while HUL's market cap jumped by Rs 205.64 crore to Rs 3,85,683.63 crore.
In contrast, the valuation of Infosys plummeted by Rs 11,217.56 crore to Rs 3,01,407.50 crore while that of ITC dropped by Rs 4,156.10 crore to Rs 3,79,366.25 crore. HDFC Bank's m-cap dived by Rs 1,815.91 crore to Rs 5,61,184.90 crore and that of Kotak Mahindra Bank fell by Rs 1,553.66 crore to Rs 2,39,205.34 crore. SBI's valuation slipped by Rs 1,517.18 crore to Rs 2,68,005.36 crore.
In terms of rankings, the spots were in the following order:
- HDFC Bank
- Kotak Mahindra Bank