In some great news for the Indian equity markets, according to an ET report on May 13, 2018, 9 out of the top 10 most valued companies in India added a total of Rs. 65,128.77 cr in market capitalisation last week. (Source: PTI Report, May 13, 2018)
The ET report stated that Reliance Industries Ltd recorded the maximum surge in terms of its valuation. However, there was only one of the 10 companies that experienced market cap erosion, and that was Tata Consultancy Services. Its valuation fell by Rs. 3,876.44 crore to Rs 6,62,458.36 crore. The remaining 9 companies that included HDFC Bank, ITC, Hindustan Unilever Ltd, and HDFC recorded gains. (Source: PTI Report, May 13, 2018)
The ET report dated May 13, 2018 stated that during the last week, the market cap of RIL increased by Rs. 21,920.73 crore to touch Rs. 6,26,261.50 crore. The valuation of oil major ONGC rose by Rs. 8,983.26 crore to Rs. 2,40,366.49 crore. HUL added Rs. 8,939.5 crore to take its market cap to Rs. 3,26,042.97 crore. Cigarette and hotel major ITC saw its market cap increase by Rs. 7,810.75 crore to touch Rs. 3,46,479.93 crore. Among banks, Kotak Mahindra Bank’s market cap rose by Rs. 6,460.57 crore to reach Rs. 2,41,166.28 crore. (Source: PTI Report, May 13, 2018)
HDFC Bank was the other big bank that saw its market cap increase by Rs. 5,921.1 crore to Rs. 5,22,160.91 crore. The auto major Maruti Suzuki also saw a rise of Rs, 1,789.83 crore in market cap to touch Rs. 2,63,966.62 crore. Among IT companies, IT major Infosys saw its market cap rise by Rs. 1,769.14 crore to reach Rs 2,57,945.41 crore. HDFC’s market cap increased by Rs. 1,533.89 crore to Rs. 3,22,065.11 crore. (Source: PTI Report, May 13, 2018)
This surge in the market cap of 9 out of the top 10 Indian companies clearly indicates good days ahead for the Indian stock markets. Thus, it’s a good time to consider entering the equity markets. You can either enter it by buying direct stocks or by investing in mutual fund SIPs. If you are worried about taking decisions on which stocks to invest in, take the help of professionals.
All market cap numbers cited in this article are taken from the recent PTI Report published in the ET on May 13, 2018 available at ET News, PTI Report
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