HUL briefly surpasses ITC in market valuation

Hindustan Unilever Ltd (HUL) today briefly surpassed ITC in market valuation ranking to become the fourth most valued firm.

The market capitalisation (m-cap) of HUL at 14:59 hrs stood at Rs 3,42,352 crore, while that of ITC was at Rs 3,40,987 crore during the same time on BSE.

However, at close of trade today, the m-cap of ITC stood at Rs 3,40,499.83 crore, which was Rs 831.15 crore more than that of HUL's Rs 3,39,668.68 crore valuation.

Shares of ITC fell by 2.43 per cent to end at Rs 279 on BSE. During the day, it lost 2.60 per cent to Rs 278.50.

HUL's share ended flat at Rs 1,569.25, down 0.31 per cent. Intra-day, it declined 0.88 per cent to Rs 1,560.30.

TCS is the country's most valued firm with a market valuation of Rs 6,68,603.23 crore, followed by Reliance Industries Ltd (Rs 5,98,797.23 crore), HDFC Bank (Rs 5,26,510.85 crore), ITC and HUL in the top five list.

Diversified group ITC Ltd yesterday reported 9.86 per cent increase in standalone net profit at Rs 2,932.71 crore for the fourth quarter ended on March 31, 2018.