Mukesh Ambani outshines these 8 corporate giants with massive 14,500 Cr surge

Asia’s richest businessman Mukesh Ambani’s conglomerate, Reliance Industries, emerged as the top gainer in the Indian stock market last week, overshadowing eight other major corporations. Despite a turbulent market, Reliance Industries saw a significant increase of ₹14,500 crore in its market capitalization. Bajaj Finance also witnessed a minor growth of ₹384 crore. This rise is particularly noteworthy as the stock market experienced consistent downturns during the same period.

Eight major companies suffer heavy losses

In contrast, eight of India’s leading companies faced a cumulative market capitalization decline of approximately ₹1.66 lakh crore. The biggest blow was suffered by Tata Consultancy Services (TCS), with a sharp decline of ₹53,185.89 crore. Telecom giant Bharti Airtel also faced a substantial loss of ₹44,407.77 crore. Other major corporations, including ICICI Bank, Hindustan Unilever (HUL), State Bank of India (SBI), HDFC Bank, Infosys, and Life Insurance Corporation (LIC), recorded significant drops in their market valuations.

Market capitalization changes among top 10 companies

• TCS: Declined by ₹53,185.89 crore, settling at ₹13,69,717.48 crore.

• Bharti Airtel: Fell by ₹44,407.77 crore to ₹9,34,223.77 crore.

• ICICI Bank: Dropped by ₹18,235.45 crore, reaching ₹8,70,579.68 crore.

• HUL: Declined by ₹17,962.62 crore to ₹5,26,684.38 crore.

• Infosys: Lost ₹17,086.61 crore, bringing its market cap to ₹7,53,700.15 crore.

• ITC: Reduced by ₹11,949.42 crore to ₹5,01,750.43 crore.

• HDFC Bank: Saw a minor dip of ₹2,555.53 crore, totaling ₹12,94,152.82 crore.

• SBI: Declined by ₹401.61 crore, bringing its valuation to ₹6,43,955.96 crore.

• Reliance Industries: Increased by ₹14,547.3 crore, reaching ₹16,61,369.42 crore.

• Bajaj Finance: Gained ₹384.33 crore, raising its market cap to ₹5,20,466.75 crore.

Despite the overall bearish sentiment in the market, Reliance Industries and Bajaj Finance managed to maintain a positive trajectory. Analysts predict further fluctuations in the coming weeks as market conditions continue to evolve.