7 of top-10 most valued firms grow mcap by over ₹1 lakh cr; TCS, Infosys shine

Combined market valuation of seven of the top 10 most valuable firms jumped, reports PTI 1,07,224.82 crores last week.

Tata Consultancy Services market capTCS) jumped 59,349.81 crore – taking its total valuation to approx. 12,34,637.11 crores. It will be the biggest gainer in market cap among others.

Meanwhile, the Infosys market cap jump 22,997.16 crores from 6,32,684.95 crore during the week.

TCS missed estimates in terms of profitability and margin for the quarter ending December 31, 2022. However, revenue was better than expected. In Q3FY23, TCS posted a net profit of Rs. 10,846 Crore on a consolidated basis, up by 11.02% YoY and 3.98% QoQ. TCS’s consolidated revenue from operations came in at 58,229 Crore growing by 19.11% YoY and 5.28% QoQ.

In contrast, Infosys beat expectations in terms of profitability and revenue during the third quarter. The company posted a consolidated net profit of 6,586 in Q3FY23 growing 13.4% YoY and 9.4% QoQ. Meanwhile, revenue from operations came in 38,318 crore in Q3FY23 growing by 20.2% YoY and 4.9% QoQ.

Hindustan Unilever’s valuation has increased among other companies 10,514.42 crore from 6,16,004.09 crore ahead of Q3 income, while NBFC-giant HDFC’s valuation rises 4,904.87 crores from 4,78,922.89 crores. In addition, India’s largest life insurer, LIC added 3,668.5 crore taking its total valuation to Rs. 4,50,782.59 crores.

Also, evaluate HDFC bank Enhanced 3,624.89 crores from 8,92,754.89 crore, followed by ICICI Bank, which registered the reverse 2,165.17 crore taking its valuation 6,09,305.82 crores.

HDFC Bank on Saturday announced its third quarter earnings, which beat street estimates. Bank posted net profit 12,259.50 crore in Q3FY23 up 18.50% YoY, and net interest income of 22,987.9 crore growing by 24.60% YoY.

HUL and ICICI Bank saw gains ahead of their third quarter earnings scheduled on January 19 and January 21.

However, the valuation of Reliance Industries (RIL) declined 47,290.7 crores in total Market for hat 16,69,280.55 crore by the end of 13 January. RIL is the largest company in terms of market share. The company will announce its third quarter results on January 20.

In addition, the market cap of Bharti Airtel decreased 17,373.86 crore from 4,25,982.59 crore, and State Bank of India (SBI) reported a decline 490.85 crore taking its total market cap to Rs. 5,35,521.33 crores.

Here is the ranking of these top 10 giants – Reliance Industries remained the most valuable domestic firm followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, State Bank of India, HDFC, LIC and Bharti Airtel.

Both Sensex and Nifty 50 have gained around 0.5-0.6% for the week. FII sold 9,605.64 crore in Indian equities, while DIIs bought 10,042.08 crore during the week ending January 13.