Amid Israel-Iran war, India’s 6 most valued firms earn Rs 1.62 lakh crore in just five days due to…, Mukesh Ambani’s Reliance earns Rs…
While markets from United States to Asia have declined due to global tensions caused by the Israel-Iran war, which have been further exacerbated by America’s entry into the war on Sunday, the Indian stock market remains unaffected, and is in fact witnessing a sort of boom, as six of country’s 10 most-valued firms added a staggering Rs 1.62 lakh crore to their combined market capitalization (mcap) in the last week with Mukesh Ambani-led Reliance Industries, Sunil Mittal-owned Bharti Airtel and HDFC Bank, emerging as biggest gainers.
Airtel, Reliance, HDFC biggest gainers
According to market data, the market cap of telecom giant Bharti Airtel increased by Rs 54,055.96 crore, jumping to Rs 11.04 lakh crore, while the valuation of Mukesh Ambani-led Reliance Industries Limited surged Rs 50,070.14 crore to Rs 19.82 lakh crore, and HDFC gained Rs 38,503.91 crore, taking its mcap to Rs 15.07 lakh crore.
Similarly, the market cap of Narayana Murthy-led IT giant Infosys increased by Rs 8,433.06 crore, reaching Rs 6.73 lakh crore, ICICI Bank mcap surged by Rs 8,012.13 crore to Rs 10.18 lakh crore, while SBI gained Rs 3,212.86 crore taking its market valuation to Rs 7.10 lakh crore.
TCS, Bajaj Finance among laggards
Meanwhile. Bajaj Finance, Tata Group’s Tata Consultancy Services (TCS)– India’s largest IT services exporter, Hindustan Unilever Limited (HUL), and LIC, emerged as laggards during the trade week. The mcap of Bajaj Finance decreased by Rs 17,876.42 crore to Rs 5.62 lakh crore, while TCS fell Rs 4,613.06 crore to Rs 12.42 lakh crore.
The market value of HUL declined by Rs 3,336.42 crore to Rs 5.41 lakh crore, and that of LIC now stands at Rs 5.92 lakh crore after losing Rs 1,106.88 crore.
Reliance remains India’s most-valued domestic company
Notably, Mukesh Ambani-led Reliance Industries remains India’s most-valued domestic firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever (HUL). The current market of Reliance Industries is estimated at Rs 19.82 lakh crore.
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