Top 10 Most Valued Firms Gain Nearly Rs 1 Lakh Crore In Market Cap, Led By Bharti Airtel, Reliance Industries
Bharti Airtel Ltd stood out as a top gainer in today’s trading session, bolstered by an upgrade from ICICI Securities.
A Bharti Airtel store in Mumbai. (Photo source: Usha Kunji/NDTV Profit)
The top 10 most-valued firms gained a cumulative 1.02 lakh crore in market valuation on Friday, with Bharti Airtel Ltd and Reliance Industries Ltd emerging as the biggest gainers.
Bharti Airtel Ltd stood out as a top gainer in today’s trading session, bolstered by an upgrade from ICICI Securities. The domestic brokerage raised its rating to Buy from Add and set a target price of Rs 1,875, indicating a potential upside of 20% from the current market levels. The stock also logged its highest intraday gain since September 12.
Bharti Airtel Ltd gained 39,055 crores in market capitalisation to Rs 9.27 lakh crore, and Reliance Industries Ltd gained Rs 28,010 crore with its market cap gain to Rs 17.47 lakh crore.
ICICI Bank and L&T Ltd gain Rs 8,701 crore and Rs 7,693 crore, respectively.
The market capitalisation of Tata Consultancy Services Ltd gained 7,634 crores to 15.43 lakh crore, and Hindustan Unilever Ltd also gained nearly Rs 7,001 crore, taking its market cap to Rs 5.85 lakh crore.
State Bank of India Ltd was the only stock that ended in red among the top 10 most valuable firms, losing Rs 133 crore to Rs 7.48 lakh crore.
RIL remained the most valued firm, followed by TCS, HDFC Bank Ltd., Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever Ltd., ITC, and HCL Tech.
Benchmark equity indices gained for a second consecutive week, adding nearly 3% in two weeks. Share prices of Adani Enterprises Ltd. and Bharat Electronics Ltd. added over 10% this week.
On Friday, both the indices recovered from their steep falls in the previous session as Bharti Airtel Ltd. and Reliance Industries Ltd. shares contributed the most. They had witnessed the steepest intraday fall in over the last three weeks on Thursday.
Globally, investors will look forward to key inflation data from Europe, along with the UK's financial policy committee meeting. Intraday, both Nifty and Sensex rose 1.1%.
The Nifty ended 0.91%, or 216.95 points, higher at 24,131.10, and the Sensex closed 0.96%, or 759.05 points, up at 79,802.79.
