IT bellwether TCS gained ₹72,000 crore in weekly market value after beating profit estimates. Five of the top-10 firms added ₹1.54 lakh crore combined.
The five biggest Indian companies by market value added ₹1.54 lakh crore last week, with TCS leading the charge after its June-quarter earnings beat estimates.
The BSE Sensex rose 582 points, or 0.75%, and the Nifty gained 127 points for the week. A broad rally in IT and financial stocks pushed the indexes higher, Religare Broking analyst Ajit Mishra wrote in a note.
TCS tacked on ₹72,072 crore in market capitalisation, closing at ₹8,20,673 crore. The company reported a 4.61% rise in net profit to ₹13,349 crore for the June quarter. Management said demand, which was hit by the West Asia crisis, is starting to return this quarter.
ICICI Bank added ₹29,062 crore to its valuation, ending at ₹10,34,442 crore. Reliance Industries climbed ₹23,885 crore to ₹17,95,091 crore. Bajaj Finance rose ₹21,947 crore to ₹6,57,274 crore. State Bank of India gained ₹7,338 crore to ₹9,63,769 crore.
On the other side, Larsen & Toubro lost ₹18,098 crore of its market value, closing at ₹5,24,841 crore. Life Insurance Corporation of India shed ₹12,081 crore, ending at ₹5,48,124 crore. Bharti Airtel fell ₹7,706 crore to ₹11,91,068 crore. HDFC Bank edged down ₹7,085 crore to ₹12,62,370 crore. Hindustan Unilever dipped ₹1,222 crore to ₹5,03,776 crore.
Reliance Industries remains India's most valuable company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever.
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