Seven of top 10 firms add Rs 1.42 trillion in m-cap; RIL best performer

NEW DELHI: Seven of the 10 most valued Indian firms together added Rs 1.42 trillion in market valuation last week, propelled by a broad rally in the equity markets amid the ruling BJP’s emphatic victory in the general elections.nnThe 30-share BSE Sensex touched its lifetime (intra-day) high of 40,124.96 on Thursday, the day election results were announced.nnMarket mood was buoyant after the Bharatiya Janata Party (BJP) won over 300 seats on its own out of 542 seats in the Lok Sabha elections.nnBoosted by the upbeat trading sentiment, the cumulative market valuation of seven of the top-10 companies advanced by Rs 1,42,468.1 crore.nnReliance Industries Ltd (RIL), the country’s most valued firm, emerged as the best performer among the top-10 entities. Its market valuation zoomed by Rs 45,069.66 crore to Rs 8,47,385.77 crore for the week ended Friday.nnSBI was the second best performer, adding Rs 31,816.24 to its market capitalisation (m-cap) to reach Rs 3,16,466.72 crore.nnThe m-cap of ICICI Bank climbed Rs 26,586.43 crore to Rs 2,78,269.34 crore and that of HDFC advanced Rs 23,024.22 crore to Rs 3,66,235.80 crore.nnKotak Mahindra Bank gained Rs 10,157.84 crore to reach Rs 2,88,981.46 crore.nnThe market cap of Hindustan Unilever Ltd (HUL) rose by Rs 2,911.52 crore to Rs 3,78,650.09 crore and that of HDFC Bank went up by Rs 2,902.17 crore to Rs 6,46,462.22 crore.nnIn contrast, the valuation of Tata Consultancy Services (TCS) dropped by Rs 17,523.6 crore to Rs 7,69,107.53 crore and that of ITC slipped Rs 13,791 crore to Rs 3,55,684.20 crore.nnThe m-cap of Infosys fell by Rs 6,269.42 crore to Rs 3,09,953.84 crore.nnIn the ranking of top-10 firms, RIL was placed at the number one position, followed by TCS, HDFC Bank, HUL, HDFC, ITC, State Bank of India (SBI), Infosys, Kotak Mahindra Bank and ICICI Bank.nnSource: Press Trust of India