This is the power of Mukesh Ambani, RIL earned 20 thousand crores in a falling market
Last week, the combined market cap of eight of the top 10 most valuable domestic companies declined by ₹79,129.21 crore, with Bajaj Finance and ICICI Bank suffering the biggest losses. Meanwhile, the market cap of Reliance Industries, the country's largest company, saw an increase of more than ₹20,000 crore.
The strength of Mukesh Ambani and his company, Reliance Industries, can be gauged from the fact that they reaped significant profits even during the falling stock market last week.
Significantly, eight of the country's top 10 companies saw their market caps decline, while two saw their market caps increase. Reliance Industries' market cap increased by more than 20,000 crore rupees, while the market cap of the country's largest infrastructure company, L&T, also saw an increase.
According to reports, the combined market cap of eight of the top 10 most valuable domestic companies declined by ₹79,129.21 crore last week, with Bajaj Finance and ICICI Bank suffering the biggest losses.
This decline came amid a broader bearish trend in the stock market. Last week, the BSE benchmark index fell 444.71 points, or 0.51 percent. Let us also tell you how much each company's valuation increased and how much it declined.
Valuation of the top 10 companies in the country
- The market capitalisation (MCAP) of the country's top NBFC company Bajaj Finance declined by Rs 19,289.7 crore to Rs 6,33,106.69 crore.
- The valuation of the country's second largest private lender ICICI Bank declined by Rs 18,516.31 crore to Rs 9,76,668.15 crore.
- The market capitalization of Bharti Airtel, one of the country's top telecom companies, declined by Rs 13,884.63 crore to Rs 11,87,948.11 crore.
- The country's largest public sector lender, State Bank of India, saw its debt decline by Rs 7,846.02 crore to Rs 8,88,816.17 crore.
- The market capitalisation of Infosys, one of the country's largest IT companies, declined by Rs 7,145.95 crore to Rs 6,64,220.58 crore.
- The market capitalization of the country's largest IT company TCS declined by Rs 6,783.92 crore to Rs 11,65,078.45 crore.
- The country's largest private lender HDFC Bank's net worth declined by Rs 4,460.93 crore to Rs 15,38,558.71 crore.
- The valuation of the country's largest insurance company LIC declined by Rs 1,201.75 crore to Rs 5,48,820.05 crore.
- On the other hand, the market cap of the country's largest company Reliance Industries increased by Rs 20,434.03 crore to Rs 21,05,652.74 crore.
- The market cap of the country's largest infrastructure company Larsen & Toubro increased by Rs 4,910.82 crore to Rs 5,60,370.38 crore.
Mukesh Ambani
Reliance Industries