Two powerhouses make waves: These 2 companies earn ₹1.10 lakh crore in just 5 days, 8 top companies profit
Mumbai (The Uttam Hindu): Last week proved to be a great week for the stock market. Both the Sensex and Nifty, the major indexes, closed in the green with gains of more than 1.6%. Amid this rally, the market value of eight of the top 10 most valuable companies on the Bombay Stock Exchange (BSE) saw a significant jump. Together, these eight companies generated a whopping ₹2.05 lakh crore in returns for their investors in just five trading days.
Reliance and Airtel made bumper profits
More than half of this week's earnings (Rs 1.10 lakh crore) came from just two major companies. Telecom giant Bharti Airtel showered the most money on investors. Airtel's market cap jumped by Rs 55,652 crore last week to over Rs 11.96 lakh crore.
Reliance Industries, led by the country's richest man, Mukesh Ambani, came in second, providing investors with a profit of ₹54,941 crore. With this, Reliance's total market cap reached ₹20.55 lakh crore.
These companies also gave profits
Apart from these two companies, the following six companies were also included in the profit-making list:
TCS: Market cap increased by Rs 40,757 crore to Rs 11.23 lakh crore.
ICICI Bank: Market cap rises by Rs 20,834 crore to Rs 9.80 lakh crore.
SBI: Market cap increased by Rs 10,522 crore to Rs 8.92 lakh crore.
Infosys: Market cap increased by Rs 10,448 crore to Rs 6.24 lakh crore.
HDFC Bank: Market cap increased by Rs 9,149 crore to Rs 15.20 lakh crore.
HUL: Market cap increased by Rs 2,878 crore to Rs 5.70 lakh crore.
Losses for Bajaj Finance and LIC
However, even in this bullish market, investors in two Sensex top-10 companies suffered losses. Bajaj Finance suffered the biggest loss of Rs 30,147 crore, reducing its market cap to Rs 6.33 lakh crore. Furthermore, the market value of the country's largest insurance company, LIC, also declined by Rs 9,266 crore to Rs 5.75 lakh crore.
Following last week's performance, Mukesh Ambani's Reliance Industries remained the country's most valuable company, followed by HDFC Bank, Bharti Airtel, TCS and ICICI Bank.