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Market Valuation of 9 of Top-10 Most Valued Firms Jumps ₹1 Lakh Cr; RIL, HDFC Bank Lead Gains

OutlookIndia

OutlookIndia · 2m ago

Market Valuation of 9 of Top-10 Most Valued Firms Jumps ₹1 Lakh Cr; RIL, HDFC Bank Lead Gains

Nine of India's top-10 most valued firms, led by Reliance Industries and HDFC Bank, added over ₹1 lakh crore to their market valuation in a week. The BSE Sensex rose by 737.98 points, indicating a positive market trend. Reliance Industries saw the largest gain of ₹30,786.38 crore, followed by HDFC Bank with a ₹26,668.23 crore increase. Tata Consultancy Services was the only firm among the top-10 to experience a decline.

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Related News

Mcap of 7 of top 10 firms declines ₹62,279 crore; RIL takes biggest hit

Livemint

Livemint · 1y ago

Mcap of 7 of top 10 firms declines ₹62,279 crore; RIL takes biggest hit

In the top 10 pack of Indian companies, Reliance Industries, TCS, ICICI Bank, Hindustan Unilever, ITC, State Bank of India, and Bharti Airtel saw a decrease in market valuation, while HDFC Bank, Infosys, and Bajaj Finance experienced gains. Reliance Industries lost ₹38,495.79 crore, while HDFC Bank gained ₹10,917.11 crore. Overall, Reliance Industries remained the most valued firm in the ranking.

Mcap of 8 of top-10 most-valued firms jumps Rs 1.83 lakh cr; TCS, Infosys biggest gainers

YourStory

YourStory · 1y ago

Mcap of 8 of top-10 most-valued firms jumps Rs 1.83 lakh cr; TCS, Infosys biggest gainers

Eight out of the top 10 most valued companies in India witnessed a significant increase in their market valuations last week. Tata Consultancy Services (TCS) and Infosys were the major gainers, following a rally in equities. The market capitalization of TCS rose by Rs 38,894.44 crore, while Infosys added Rs 33,320.03 crore. Reliance Industries, ICICI Bank, Life Insurance Corporation of India (LIC), Hindustan Unilever, ITC, and State Bank of India also experienced notable gains. However, HDFC Bank and Bharti Airtel witnessed a decline in their market valuations.

Bets on unlisted shares may backfire, as this company’s example proved

Livemint

Livemint · 2m ago

Bets on unlisted shares may backfire, as this company’s example proved

The valuation of HDB Financial Services, a subsidiary of HDFC Bank, was sharply lower in its IPO compared to its previous unlisted market value, impacting retail investor interest in pre-IPO shares. Investors who anticipated gains faced losses as the shares, initially valued privately at ₹1,100-1,200, were offered in the IPO at a reduced price band of ₹700-740. This situation highlights the risks involved in betting on unlisted shares for premium gains.

Top Indian Firms Lose ₹1.65 lakh crore in market value; HDFC bank suffers the most

YourStory

YourStory · 2m ago

Top Indian Firms Lose ₹1.65 lakh crore in market value; HDFC bank suffers the most

Eight of India's top ten firms lost a combined market value of ₹1.65 lakh crore, with HDFC Bank suffering the largest decline by ₹47,075.97 crore. Reliance Industries, ICICI Bank, and State Bank of India also faced significant losses. The market capitalization of Bharti Airtel, LIC, Bajaj Finance, and Hindustan Unilever decreased as well. Meanwhile, TCS and Infosys bucked this trend, experiencing gains in their valuations.

EQT, ChrysCap-backed Credila gets valuation bump as it adds new investor to cap table

VCCircle

VCCircle · 1y ago

EQT, ChrysCap-backed Credila gets valuation bump as it adds new investor to cap table

Education loan provider HDFC Credila, backed by private equity firms EQT and ChrysCapital, has added a new investor to its cap table. The company recently underwent a buyout when HDFC Bank sold its majority stake for $1.15 billion. The addition of the new investor will likely result in a higher valuation for HDFC Credila.

Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Inc42 · 2m ago

Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Nexus Venture Partners sold 1.2 crore shares of Delhivery for INR 461 crore through block deals. The major buyers included Axis Mutual Fund, Citigroup Global Markets, HDFC, and Tata Mutual Fund, among others. Morgan Stanley Asia Singapore emerged as the largest buyer, acquiring over 47 lakh shares worth INR 184.7 crore. Most shares, 1.02 crore, were sold from Nexus Venture Partners III for INR 395.2 crore, with additional shares sold from Nexus Opportunity Fund.

SC stays GST notices worth over Rs 1 L Cr against online gaming firms for tax fraud

YourStory

YourStory · 7m ago

SC stays GST notices worth over Rs 1 L Cr against online gaming firms for tax fraud

The Supreme Court has stayed GST authorities' showcause notices, valued at over Rs 1 lakh crore, against online gaming firms over alleged tax evasion. Justices J B Pardiwala and R Mahadevan ruled that all proceedings against these companies remain paused, pending further hearing. The GST law was amended in October 2023 to require foreign online gaming firms to register in India, with a 28% GST on bets. Various firms challenged these demands, and the Supreme Court consolidated cases for review.

Zappfresh DRHP: Revenue Surges 60% To INR 90 Cr In FY24, Profit Jumps 70%

Inc42 · 1y ago

Zappfresh DRHP: Revenue Surges 60% To INR 90 Cr In FY24, Profit Jumps 70%

Zappfresh, a D2C meat delivery startup, saw its net profit increase by 70% to INR 4.7 Cr in FY24 compared to INR 2.7 Cr in the previous fiscal year. Delhi contributed the most to the company's revenue, accounting for 35.7%, followed by Haryana with a 27.96% share. Zappfresh's IPO consists of a fresh issue of 59.06 Lakh equity shares without any offer for sale component.

Mutual funds continue to buy HDFC Bank shares for fifth successive month

Money Control

Money Control · 1y ago

Mutual funds continue to buy HDFC Bank shares for fifth successive month

Mutual funds continue to show interest in HDFC Bank, with May marking the fifth consecutive month of buying shares. In May, mutual funds purchased shares worth Rs 7,600 crore, bringing the total value of shares held to Rs 2.32 lakh crore. SBI Mutual Fund is the largest stakeholder in HDFC Bank, followed by ICICI Prudential Mutual Fund and HDFC Mutual Fund. Despite underperforming in recent years, analysts believe the stock could see a recovery due to attractive valuations and low earnings per share expectations. The upcoming MSCI India index rebalance in August could also lead to significant passive buying of HDFC Bank shares.

HDB Financial Services files draft papers with Sebi for Rs 12,500-cr IPO

YourStory

YourStory · 10m ago

HDB Financial Services files draft papers with Sebi for Rs 12,500-cr IPO

HDB Financial Services, a subsidiary of HDFC Bank, has filed papers with SEBI to raise Rs 12,500 crore through an IPO. The proposed IPO includes a fresh issue of equity shares worth Rs 2,500 crore and an offer-for-sale of Rs 10,000 crore by HDFC Bank. The funds raised will be used to strengthen its capital base and support future lending needs. The decision to list follows RBI's mandate for NBFCs to list within three years. HDB Financial Services will remain a subsidiary of HDFC Bank after the IPO. A dozen book-running lead managers have been appointed for the IPO.

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