Market Capitalization: Last week was a little short in business terms as the stock market was closed on Friday on account of Ambedkar Jayanti. Although the market cap of 7 out of the top 10 companies has increased well.
Market Capitalization: The market capitalization (market cap) of seven of the top 10 Sensex companies collectively increased by Rs 67,859.77 crore last week. ICICI Bank and HDFC Bank got the maximum profit. Last week, the 30-share BSE Sensex gained 598.03 points or 0.99 per cent. The stock markets were closed on Friday (April 14) on the occasion of Ambedkar Jayanti.
These seven companies remained on top
Among the top 10 Sensex companies, Reliance Industries, HDFC Bank, ICICI Bank, HDFC, ITC, State Bank of India (SBI) and Bharti Airtel were among the gainers. On the other hand, the market valuation of Tata Consultancy Services (TCS), Hindustan Unilever and Infosys declined.
- Last week, the market capitalization (market cap) of ICICI Bank increased by Rs 17,188.25 crore to reach Rs 6,27,940.23 crore.
- The market valuation of HDFC Bank rose by Rs 15,065.31 crore to Rs 9,44,817.85 crore.
- HDFC’s market cap increased by Rs 10,557.84 crore to Rs 5,11,436.51 crore.
- ITC’s valuation increased by Rs 10,190.97 crore to Rs 4,91,465.96 crore.
- The market valuation of Reliance Industries increased by Rs 9,911.59 crore to Rs 15,93,736.01 crore.
- SBI’s market cap stood at Rs 4,75,815.69 crore with a jump of Rs 4,640.8 crore.
- The market cap of Bharti Airtel increased by Rs 305.01 crore to Rs 4,27,416.08 crore.
The fall in these three stocks
- Contrary to this trend, the market valuation of Infosys declined by Rs 13,897.67 crore to Rs 5,76,069.05 crore.
- The market cap of TCS came down to Rs 11,67,182.50 crore with a loss of Rs 11,654.08 crore.
- The market valuation of Hindustan Unilever declined by Rs 6,954.79 crore to Rs 5,95,386.43 crore.
How were the quarterly results of TCS and Infosys
country’s largest information technology service exporter TCS reported a 14.8 per cent increase in its March quarter net profit to Rs 11,392 crore. However, the company has expressed concern about its major North American market. The company’s quarterly results came on Wednesday. Infosys’ fourth quarter net profit was lower than expected. Apart from this, the company has indicated a four to seven per cent growth in revenue for the current financial year, which is quite weak.
Reliance Industries retained the first position
Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, HDFC, ITC, SBI and Bharti Airtel respectively.
