Top 9 firms gain over Rs 89k cr in m-cap

Amid a strong broader market, the combined market capitalisation (m-cap) of the country's top nine firms increased Rs 89,339.66 crore last week, with the largest private firm RIL gaining the most.

Market value of Reliance Industries Ltd (RIL) rose by Rs 28,125 crore to Rs 2,63,696 crore on the Bombay Stock Exchange on Friday. RIL shares surged nearly 12% last week.

Late last month, the company closed the $7.2 billion deal to sell 30% stake in 21 oil and gas blocks to UK's BP Plc. The Mukesh Ambani firm is banking on this alliance to arrest sagging production at its KG-D6 gas fields.

State-run Coal India Ltd (CIL) saw its market valuation jump by Rs 17,148.92 crore to Rs 2,44,379.97 crore.

IT heavyweights TCS and Infosys together gained Rs 20,563.1 crore to their market cap. The market value of TCS stood at Rs 1,99,957.34 crore, while that of Infosys was at Rs 1,32,954.25 crore.

FMCG giant ITC added Rs 4,921 crore to its market cap, which reached Rs 1,57,458 crore. Similarly, companies like Bharti Airtel, SBI, HDFC Bank and NTPC also saw gains in their market value.

Telecom major Bharti saw its market valuation swell Rs 3,759.54 crore to Rs 1,55,185.65 crore, while power producer NTPC added Rs 577.18 crore to touch Rs 1,37,616.73 crore.

Country's biggest lender SBI gained Rs 6,676.92 crore, with its market worth at Rs 1,26,610.66 crore, while private lender HDFC Bank's m-cap accelerated by Rs 7,568 crore to Rs 1,09,886 crore.

In contrast to the gains in market value of the above mentioned companies, ONGC's m-cap dropped by Rs 12,063.22 crore to Rs 2,25,779.12 crore.

The BSE benchmark Sensex snapped 5-week losing spree, longest since October 2008, vaulting 973 points to settle at 16,821.46.