Between the lockdown and Corona's havoc, the market capitalization (M-Cap) of five of BSE Sensex's top 10 companies saw an increase of Rs 1,63,795.48 crore last week. Reliance Industries (RIL) benefited the most in terms of market cap. RIL's M-Cap increased by Rs 1,21,904.63 crore to Rs 8,98,499.89 crore in the week ended on Friday. This marked a significant increase in the company's M-Cap after IT giant Facebook announced an investment of $ 5.7 billion (about Rs 43,574 crore) in RIL's subsidiary 'Jio Platforms'. Facebook has announced to buy about 10 percent stake in Jio Platforms through this investment.
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Apart from RIL, the market valuation of Tata Consultancy Services (TCS), HDFC Bank, Infosys and Kotak Mahindra Bank has also increased in the past week. However, during this period, the market capitalization of Hindustan Unilever Limited (HUL), HDFC, Bharti Airtel, ITC and ICICI Bank declined.
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HDFC Bank's market valuation increased by Rs 14,941.95 crore to Rs 5,14,140.35 crore and Infosys market capitalization increased by Rs 12,351.08 crore to Rs 2,80,369.48 crore in the week under review. In the same period, Kotak Mahindra Bank's market cap rose by Rs 10,282.58 crore to Rs 2,37,255.01 crore and TCS's market capitalization increased by Rs 4,315.24 crore to Rs 6,82,296.11 crore.
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