New Delhi, 13 September (Market) The market capitalization (market cap) of four of the top 10 Sensex companies rose by Rs 3,01,847.99 crore last week. During this time, the market valuation of Reliance Industries crossed Rs 15 lakh crore. During the week under review, the market capitalization of the country’s most valuable company Reliance Industries increased by Rs 2,51,067.2 crore to Rs 15,68,015.09 crore.
Shares of Reliance Industries shone last week. There have been reports that Reliance has offered to sell 40 percent stake of its retail unit to Amazon.com for $ 20 billion. However, the company has termed these reports as speculation. Earlier on Wednesday, the company announced that American private equity company Silver Lake Partners would buy a 1.75 percent stake in Reliance’s retail unit for Rs 7,500 crore. The market capitalization of Tata Consultancy Services, Hindustan Unilever and Infosys also increased during the week.
Market valuations of HDFC Bank, HDFC, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank and ITC collectively declined by Rs 54,801.02 crore. TCS ‘market capitalization rose by Rs 31,501.27 crore to Rs 8,90,703.56 crore in the week under review. Infosys’ market capitalization rose by Rs 11,138.31 crore to Rs 4,02,683.22 crore. Hindustan Unilever’s market capitalization rose by Rs 8,141.21 crore to Rs 5,07,327.93 crore. In contrast to this trend, HDFC Bank’s market capitalization declined by Rs 22,727.92 crore to Rs 5,93,512.25 crore. The market valuation of Bharti Airtel declined by Rs 17,157.73 crore to Rs 2,68,222.48 crore and that of Kotak Mahindra Bank by Rs 9,608.05 crore to Rs 2,63,207.24 crore.
ITC’s market valuation declined by Rs 3,383.8 crore to Rs 2,26,283.99 crore. At the same time, ICICI Bank’s market capitalization declined by Rs 1,823.57 crore to Rs 2,55,249.73 crore. HDFC’s valuation declined by Rs 99.95 crore to Rs 3,17,221.68 crore. Last week, the 30-share BSE Sensex registered a gain of 497.37 points or 1.29 per cent. Among the top ten companies, Reliance Industries retained the first position. It was followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank and ITC respectively.