Mcap of 7 of top-10 most valued firms jump Rs 1.72 trn; TCS steals show
The combined market valuation of seven of the top-10 most valued firms jumped Rs 1,72,225.62 crore last week, with IT bellwether Tata Consultancy Services (TCS) stealing the show, amid a rally in equities.
Last week, the BSE benchmark jumped 522.74 points, or 0.65 per cent.
The 30-share BSE Sensex jumped 622 points, or 0.78 per cent, to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points, or 1.24 per cent, to hit an all-time high of 80,893.51.
The market capitalisation (mcap) of TCS surged Rs 62,393.92 crore to Rs 15,14,133.45 crore.
Shares of TCS on Friday surged nearly 7 per cent after the country's largest IT services player reported an 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore.
ITC added Rs 31,858.83 crore taking its valuation to Rs 5,73,258.78 crore.
The mcap of Infosys zoomed Rs 26,905.14 crore to Rs 7,10,827.27 crore and that of Life Insurance Corporation of India (LIC) jumped Rs 22,422.12 crore to Rs