“Reliance, HDFC, HUL Surge: ₹70,312 Crore Added to India’s Top Valued Firms in a Week”
In a whirlwind of market dynamics, three giants—Reliance Industries Ltd (RIL), HDFC Bank, and Hindustan Unilever (HUL)—propelled India’s stock market with a collective surge of ₹70,312 crore in their market valuations over just one week.
In a whirlwind of market dynamics, three giants—Reliance Industries Ltd (RIL), HDFC Bank, and Hindustan Unilever (HUL)—propelled India’s stock market with a collective surge of ₹70,312 crore in their market valuations over just one week.
Amidst volatile market conditions, these three companies, among the top ten most valued in India, stood out as major beneficiaries, witnessing a remarkable increase in market worth. Reliance, particularly, spearheaded this surge, closely trailed by HDFC and HUL. Simultaneously, other leading firms such as Tata Consultancy Services (TCS), ICICI Bank, Infosys, State Bank of India, ITC, Bharti Airtel, and Life Insurance Corporation of India (LIC) contributed to a combined market value surge of ₹68,783.2 crore.
Reliance Industries, under the leadership of Mukesh Ambani, emerged as the frontrunner with an impressive ₹47,021.59 crore escalation, soaring to a market value of ₹17,35,194.85 crore. Meanwhile, Hindustan Unilever and HDFC Bank experienced commendable growth, marking valuation hikes of ₹12,241 crore and ₹11,049 crore respectively.
This exponential growth in market capitalization coincided with a historical event for BSE Sensex earlier in December, breaching the 71,000-point threshold for the first time in its history, largely propelled by Reliance’s robust performance.
However, this week also witnessed a sudden downturn as both Sensex and Nifty, despite breaking records earlier this month, took a sharp plunge. Sensex faced a setback, plummeting over 930 points in a single day, dragging Nifty below the 21,200-point mark. Amidst this decline, HDFC emerged as the solitary gainer, registering a modest increase of less than 1 percent in its share prices.
Reliance maintains its position as India’s most valued company, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, State Bank of India, ITC, Bharti Airtel, and Life Insurance Corporation of India—constituting the cream of India’s corporate sector. As the market rollercoaster continues, these fluctuations underscore the immense impact of key players on India’s financial landscape.
Sources By Agencies
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