How did the most valuable companies in India fare in the previous week ended on 03 July 2020?

During the week ended 03 July, all the valuable companies showed positive wealth creation. In fact, the 10 most valuable companies in India added nearly Rs.137,000 crore in terms of market capitalization as the Nifty closed above the 10,600 mark. This was during the a week when the Nifty closed at a 4-month high after gaining 40% since March 23.

In terms of specific stocks, TCS was the biggest gainer adding Rs.31,285 crore during the week due to the positive guidance given by Cognizant for Indian IT companies. Meanwhile, Reliance added another Rs.28,464 crore to its market cap. RIL has been celebrating for some time now doubling since March 23 on the back of its rights issue and Jio stake placements.

Among other stocks, HDFC, ITC and Bharti Airtel were among the other major gainers adding nearly Rs.46,000 crore between them. All the top 10 stocks added value during the week with ICICI Bank and Kotak Bank being the lowest value adders for the week. The markets will now await further news on growth impulses assuming COVID-19 does not escalate.