The past week has been a rollercoaster for the Indian stock market, with major companies witnessing significant fluctuations in their market capitalization. Among the biggest winners, Tata Consultancy Services (TCS) reclaimed its No. 2 position, overtaking HDFC Bank, while Reliance Industries (RIL) investors made a staggering ₹66,985 crore in just five days.
TCS Surpasses HDFC Bank to Become India’s Second Most Valuable Company
TCS, the IT giant from the Tata Group, made an impressive comeback in terms of market capitalization. The company added ₹46,094.44 crore to its market value, bringing its total market cap to ₹13.06 lakh crore. This surge helped TCS reclaim its position as the second most valuable company in India, surpassing HDFC Bank, which saw a decline in its market value.
Reliance Industries Continues to Dominate
Mukesh Ambani’s Reliance Industries Limited (RIL) remained the most valuable company in India, continuing its dominance in the market. RIL’s market cap surged by ₹66,985.25 crore, reaching ₹16.90 lakh crore. Investors in Reliance stocks enjoyed a strong 5.28% growth in just five trading days.
Reliance Stock Performance:
- Opening Price (Friday): ₹1,216
- Highest Price: ₹1,254.80
- Closing Price: ₹1,246 (+3.04%)
This performance cemented RIL’s position as India’s No. 1 company by market capitalization.
Top Gainers of the Week
Apart from Reliance and TCS, several other major companies saw a significant rise in their market capitalization:
- SBI (State Bank of India): ₹39,714.56 crore increase, reaching ₹6.53 lakh crore
- Bharti Airtel: ₹35,276.3 crore rise, taking its value to ₹9.30 lakh crore
- ITC: ₹11,425.77 crore increase, bringing its market cap to ₹5.05 lakh crore
- ICICI Bank: ₹7,939.13 crore growth, reaching ₹8.57 lakh crore
- Hindustan Unilever (HUL): ₹2,819.51 crore rise, taking its valuation to ₹5.17 lakh crore
HDFC Bank Faces a Sharp Decline
While some companies soared, others struggled. HDFC Bank was the biggest loser, witnessing a market cap drop of ₹31,832.92 crore, bringing it down to ₹12.92 lakh crore.
Other major losers included:
- Bajaj Finance: Lost ₹8,535.74 crore, market cap fell to ₹5.20 lakh crore
- Infosys: Declined by ₹955.12 crore, bringing its market cap to ₹7 lakh crore
Indian Stock Market Weekly Performance
Despite volatility, the Indian stock market ended the week on a positive note:
- BSE Sensex: Gained 1,134.48 points (+1.55%)
- NSE Nifty: Rose by 427.8 points (+1.93%)
Conclusion
The past week proved to be highly profitable for investors in Reliance and TCS, while HDFC Bank and Bajaj Finance faced setbacks. As the market continues to evolve, investors should stay updated with the latest trends to make informed decisions.
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