Reliance’s stock is currently close to 52-week high.
This week the stock market recorded a rise of about 900 points. There was a jump of 1.38 lakh crore in the market cap of Reliance, while the valuation of LIC has decreased by about Rs 1 lakh crore so far.
The market capitalization of four of the top 10 companies of the Sensex this week (BSE Market Cap) increased by Rs 2,31,320.37 crore last week. Reliance Industries in biggest profit (Reliance Industries) doing. Last week, the 30-share BSE Sensex rose 884.57 points or 1.61 per cent. Apart from Reliance Industries, Tata Consultancy Services (TCS market capThe market capitalization of Infosys and ICICI Bank increased. On the other hand, the market valuation of HDFC Bank, Hindustan Unilever, Life Insurance Corporation (LIC), State Bank of India (SBI), HDFC and Bharti Airtel declined. The valuations of these companies collectively declined by Rs 68,140.72 crore.
During the week, the market capitalization of Reliance Industries reached Rs 18,80,350.47 crore with a profit of Rs 1,38,222.46 crore. TCS’s market capitalization rose by Rs 64,618.85 crore to Rs 12,58,274.59 crore and Infosys rose by Rs 25,728.52 crore to Rs 6,40,373.02 crore. The market position of ICICI Bank increased by Rs 2,750.54 crore to Rs 5,17,049.46 crore.
LIC’s market cap decreased by more than 13 thousand crores
Contrary to this trend, the market valuation of Bharti Airtel declined by Rs 25,955.25 crore to Rs 3,76,972.75 crore. The valuation of Life Insurance Corporation (LIC) came down to Rs 5,06,157.94 crore with a loss of Rs 13,472.25 crore. HDFC’s market position declined by Rs 9,355.02 crore to Rs 4,13,299.36 crore. The market capitalization of Hindustan Unilever declined by Rs 8,963.69 crore to Rs 5,38,561.56 crore.
LIC at number seven in market cap
Whereas HDFC Bank’s market position declined by Rs 6,199.94 crore to Rs 7,66,314.71 crore and SBI’s loss by Rs 4,194.57 crore to Rs 4,14,369.71 crore. In the list of top 10 companies, Reliance Industries remained at the first position. It was followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel.
What do macroeconomic data indicate
Shrikant Chauhan, Head of Equity Research, Kotak Securities said that several key macroeconomic data came out this week. The pace of growth slowed down in the March quarter and stood at 4.1 per cent. For the month of April, the GST collection stood at 1.4 lakh crore with a growth of 40 per cent, exports registered a growth of 15 per cent in May, while there was a 56 per cent jump in imports. The Reserve Bank has kept the inflation forecast for the June quarter at 6.3 percent. There is a meeting of the Monetary Policy Committee next week in which it will be revised. The repo rate has already been increased by 40 basis points. It is believed that in the coming days, the Reserve Bank will increase the repo rate by up to 75 basis points.
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