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Reliance and HDFC Bank Drive ₹1 Lakh Crore Surge in Top Firms’ Market Valuations

An unexpected repo rate cut coupled with a reduced cash reserve ratio by the Reserve Bank of India fueled last week’s broad-based valuation gains

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Overview

  • Nine of the top ten most valued firms in India added a combined ₹1,00,850.96 crore in market capitalisation last week
  • Reliance Industries led the rally with a ₹30,786.38 crore jump that lifted its market value to ₹19.53 lakh crore
  • HDFC Bank followed with a ₹26,668.23 crore gain, taking its valuation to ₹15.15 lakh crore and securing second place
  • Tata Consultancy Services was the sole decliner among the top ten as its market cap fell by ₹28,510.53 crore
  • Broader sector gains were seen in Bajaj Finance, ICICI Bank, Hindustan Unilever, Bharti Airtel, LIC, Infosys and SBI while the BSE Sensex climbed 737.98 points