The combined market valuation of five of the 10 most valued Indian companies zoomed Rs 94,688.93 crore last week, mainly helped by a stellar rally in SBI.
While Reliance Industries, SBI, Maruti, ONGC and Infosys saw a rise in their market capitalisation (m-cap) for the week ended Friday, TCS, HDFC Bank, ITC, HUL and HDFC suffered losses.
State Bank of India was the star performer as its m-cap surged Rs 57,618.94 crore to Rs 2,68,413.61 crore. On Wednesday, SBI shares had zoomed 27.58 per cent after the government announced a Rs 2.11 lakh crore recapitalisation plan for PSU banks.
The valuation of ONGC soared Rs 11,999.07 crore to Rs 2,35,554.03 crore and that of RIL jumped Rs 9,964.18 crore to Rs 5,88,601.05 crore.
Maruti Suzuki India’s m-cap rose by Rs 9,823.65 crore to Rs 2,45,131.93 crore, while that of Infosys advanced by Rs 5,283.09 crore to Rs 2,17,628.63 crore.
In contrast, the market valuation of HDFC Bank slumped Rs 19,767.58 crore to Rs 4,63,336.43 crore.
HDFC lost Rs 8,717.19 crore to Rs 2,70,847.09 crore and Tata Consultancy Services (TCS) suffered an erosion of Rs 1,885.57 crore to Rs 4,93,733.06 crore.
The m-cap of Hindustan Unilever Ltd (HUL) fell by Rs 1,471.84 crore to Rs 2,72,161.54 crore and that of ITC went down by Rs 1,218.36 crore to Rs 3,28,166.52 crore.
In the ranking of top-10 firms, RIL retained the number one position, followed by TCS, HDFC Bank ITC, HUL, HDFC, SBI, Maruti, ONGC and Infosys.
Over the last week, the Sensex recorded handsome gains of 767.26 points or 2.37 per cent — its best weekly gain since January 27.