TCS added over ₹72,000 crore in market cap, while L&T lost ₹18,000 crore. Sensex rose 0.75% as Q1 earnings boosted sentiment. Next week's earnings from banks will test the rally.
The combined market capitalisation of five of India's ten most valuable companies rose by ₹1.54 trillion last week, led by TCS and Reliance Industries. The BSE Sensex gained 582 points, or 0.75%, while the Nifty added 127 points.
TCS posted the largest gain, adding ₹72,072 crore to its valuation, which now stands at ₹8,20,673 crore. The IT giant reported a 4.61% rise in June-quarter net profit to ₹13,349 crore and said demand should improve in the current quarter after the West Asia crisis hurt earlier periods.
Reliance Industries added ₹23,885 crore, reaching a market cap of ₹17,95,091 crore, keeping it the most valued Indian company. ICICI Bank rose by ₹9,062 crore to ₹10,34,442 crore, Bajaj Finance climbed ₹21,947 crore to ₹6,57,274 crore, and State Bank of India added ₹7,338 crore to ₹9,63,769 crore.
Ajit Mishra, senior vice president of research at Religare Broking, said Indian equities extended their recovery despite 'heightened geopolitical tensions, elevated crude oil prices, and persistent uncertainty surrounding the global interest-rate outlook.' He cited encouraging Q1 earnings from the IT sector, renewed buying in financial stocks, and resilient domestic economic fundamentals.
The laggards: Larsen & Toubro lost ₹18,098 crore, falling to ₹5,24,841 crore. LIC declined ₹12,081 crore to ₹5,48,124 crore. Bharti Airtel shed ₹7,706 crore to ₹11,91,068 crore, HDFC Bank slipped ₹7,085 crore to ₹12,62,370 crore, and Hindustan Unilever dipped ₹1,222 crore to ₹5,03,776 crore.
AlphaScala's proprietary Alpha Score rates HDFC Bank at 44 (Mixed), ICICI Bank at 57 (Moderate), and Unilever at 59 (Moderate).
The ranking of India's most valuable companies remained unchanged: Reliance Industries first, 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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