As per the PTI report, the combined market valuation of seven of the top 10 most valued firms jumped ₹1,07,224.82 crore last week.
The market cap of Tata Consultancy Services (TCS) jumped by ₹59,349.81 crore — taking its total valuation to around ₹12,34,637.11 crore. This would be the most gain in market cap among others.
Meanwhile, the Infosys market cap soared by ₹22,997.16 crore to ₹6,32,684.95 crore during the week.
TCS missed estimates in terms of profitability and margins for the quarter ending December 31, 2022. However, revenue was better than expected. In Q3FY23, TCS garnered a net profit of ₹10,846 crore on a consolidated basis up by 11.02% YoY and 3.98% QoQ. TCS consolidated revenue from operations came in at ₹58,229 crore increasing by 19.11% YoY and 5.28% QoQ.
On the contrary, Infosys exceeded expectations in terms of profitability and revenue during Q3. The company posted a consolidated net profit of ₹6,586 in Q3FY23 rising by 13.4% YoY and 9.4% QoQ. Meanwhile, revenue from operations came in at ₹38,318 crore in Q3FY23 increasing by 20.2% YoY and 4.9% QoQ.
Among other companies, Hindustan Unilever's valuation surged by ₹10,514.42 crore to ₹6,16,004.09 crore ahead of Q3 earnings, while NBFC-giant HDFC's valuation increased by ₹4,904.87 crore to ₹4,78,922.89 crore. Further, India's largest life insurer, LIC added ₹3,668.5 crore taking its total valuation to ₹4,50,782.59 crore.
Also, the valuation of HDFC Bank surged ₹3,624.89 crore to ₹8,92,754.89 crore, followed by ICICI Bank which recorded an upside of ₹2,165.17 crore taking its valuation to ₹6,09,305.82 crore.
HDFC Bank announced its Q3 earnings on Saturday, which beats street estimates. The bank posted a net profit of ₹12,259.50 crore in Q3FY23 up by 18.50% YoY, and a net interest income of ₹22,987.9 crore increasing by 24.60% YoY.
HUL and ICICI Bank saw an upside ahead of their Q3 earnings scheduled on January 19 and January 21.
However, the valuation of Reliance Industries (RIL) dropped by ₹47,290.7 crore taking its total market cap to ₹16,69,280.55 crore by end of January 13. RIL is the largest company in terms of market share. The company will announce its Q3 results on January 20.
Further, Bharti Airtel's market cap contracted by ₹17,373.86 crore to ₹4,25,982.59 crore, and State Bank of India (SBI) posted a fall of ₹490.85 crore taking its total market cap to ₹5,35,521.33 crore.
The ranking of these top 10 biggies are -- Reliance Industries remained the most valued 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 by around 0.5-0.6% in the week. FIIs sold ₹9,605.64 crore in Indian equities, while DIIs bought ₹10,042.08 crore during the week that ended January 13.
