InvestorQ : How did the market heavyweights like RIL, TCS and HDFC Bank perform in the previous week ending on 22 January?
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How did the market heavyweights like RIL, TCS and HDFC Bank perform in the previous week ending on 22 January?

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Juvina Maggie answered.
8 months ago
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It was a mixed week but the overall gains in the week in the leading stocks was led by Reliance Industries which had rallied ahead of its quarterly results which were announced on Friday evening post market hours. In fact, market capitalization of just 4 out of the 10 most valuable companies on Nifty added market value to the tune of Rs.115,759 crore.

During the week ended on 22 January, Reliance Industries saw massive gains of Rs.71,033 crore in market capitalization on the back of strong result expectations. The stock had actually lagged the overall market in the last few weeks as the SEBI order against RIL and the questions over how the funds would be used put pressure on the stock.

Apart from Reliance Industries, other stocks that added value were TCS, Hindustan Unilver and Bajaj Finance. On the back of stellar quarterly results and margins, TCS added Rs.26,196 crore to its market cap. HUL added Rs.13,357 crore on hopes of solid results in this quarter. Despite lower profits, Bajaj Finance added Rs.5176 crore on normalized bad loans.

Numerically, the losers outnumbered the gainers. The biggest was Bharti losing Rs.13,994 crore after Jio hinted at better than expected ARPU. HDFC Bank lost some of its steam giving up Rs.12,502 crore while parent HDFC lost Rs.7678 crore. Among banks; Kotak Bank and ICICI Bank lost close to Rs.6,000 crore each during the week.

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