India's top 10 listed companies added Rs 33,983 crore (about $5 billion) in market capitalisation during the week ended September 23. Mukesh Ambani-controlled Reliance Industries Ltd. (RIL) was the top gainer, adding Rs 8,853 crore riding the bullish sentiments over Reliance Jio Infocomm's mobile services foray.
Tata Consultancy Services (TCS), India's largest information technology services exporter, was the second biggest gainer at Rs 7,123 crore followed by private sector lender HDFC Bank that added Rs 3,838 crore.
TCS retained its position as the most-valued company with a market capitalisation of Rs 4,72,370 crore (about $71 billion), followed by Reliance Industries Ltd. (RIL) that gained for the third week in a row to end with a valuation of Rs 3,57,698 crore. The company's share price hit a new 52-week-high of Rs 1,109.20 on Friday.
HDFC Bank's valuation stood at Rs 3,33,845 crore, followed by cigarette maker ITC whose market capitalisation declined Rs 7,908 crore to Rs 3,07,165 crore. HDFC Bank stock closed at Rs 1,313.15 on the BSE, while ITC shares ended at Rs 253.85 apiece. Recently, HDFC Bank was upgraded by brokerage CLSA on the basis of the lender's potential for higher growth in the coming years.
Infosys, India's second-largest information technology software services exporter, saw an erosion of Rs 3,985 crore to end with a market capitalisation of Rs 2,39,571 crore. The Bengaluru-based company will be declaring its second quarter results on October 14. Investors and analysts would keenly watch the management commentary after CEO Vishal Sikka hinted at lowering the revenue guidance for the second time this fiscal over persisting weak global conditions.
Mortgage lender HDFC ended the week with a gain of Rs 3,930 crore to take the valuation to Rs 2,25,595 crore.
Other most-valued listed companies of India include largest coal miner Coal India Ltd., state-run energy company ONGC and fast-moving consumer goods company Hindustan Unilever Ltd.
