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The combined market capitalisation of seven of the top-10 most-valued firms surged Rs 1,23,724.19 crore last week, in line with an optimistic trend in equities, with Reliance Industries stealing the limelight with the biggest jump in its valuation. Last week, the BSE benchmark jumped 720.56 points, or 0.84 per cent. From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Larsen & Toubro and Hindustan Unilever were the gainers, while Tata Consultancy Services (TCS), Infosys, and Bajaj Finance faced erosion from their valuation. The market valuation of Reliance Industries jumped Rs 45,266.12 crore to Rs 21,54,978.60 crore. State Bank of India added Rs 30,414.89 crore, taking its valuation to Rs 9,22,461.77 crore. Larsen & Toubro's valuation surged Rs 16,204.34 crore to Rs 5,72,640.56 crore and that of Hindustan Unilever climbed Rs 14,626.21 crore to Rs 5,51,637.04 crore. The market capitalisation (mcap) of HDFC Bank edged higher by ..
Billionaire Mukesh Ambani on Saturday said India must become a world leader in artificial intelligence, but stressed the need for greater empathy in adopting new-age tech. The Chairman and Managing Director of Reliance Industries said the largest Indian corporate is at the "doorstep" of solving India's energy challenge with solar energy and storage solutions. Speaking at an event here on the occasion of the International Human Solidarity Day, Ambani said RIL's telecom arm Jio has catapulted India into the digital mainstream of the world by laying the foundation with its services. "... of course we need AI. We (India) must become world leaders in AI. But above all, we need empathy and compassion even more," Ambani said. "By combining intelligence with empathy, prosperity with purpose, India can present a new model of development to the rest of the world," the richest Indian said. He said there were many "disbelievers" about the telecom business even within RIL. In an apparent refe