Reliance Industries became the first Indian company to reach Rs 20 lakh crore in market capitalisation. The energy-to-telecom conglomerate’s market value stood at Rs 20.04 lakh crore ($238.7 billion) on Wednesday, catapulting it into the list of world’s most valuable corporations. Surpassing behemoths like Pepsico, Novartis, Industrial and Commercial Bank of China, and SAP in … Read more
India’s largest domestic institutional investor LIC’s holding in India Inc declined to all-time low of 3.64% in the December quarter as the giant likely used the bull market to book profits. Shareholding pattern data reveals that LIC reduced stake in at least 19 smallcaps with market capitalisation of less than Rs 10,000 crore. Following a … Read more
Mumbai: Tata Consultancy Services crossed ₹15 lakh crore in market capitalisation on Tuesday, becoming only the second Indian company to do so after Reliance Industries. Overall strength in the technology space helped shares of the flagship company of the Tata group surge 4.4% intraday to a lifetime high of ₹4,149.9, before closing 4% higher at … Read more
Mumbai: The selloff in shares of state-owned companies on Tuesday resulted in their total market value eroding ₹2.41 lakh crore in a single day. Following the state election results on December 3, the market capitalisation of public sector companies has gained more than ₹10 lakh crore till Saturday. The losses incurred on Tuesday represent almost … Read more
Mumbai: The Association of Mutual Funds in India (AMFI)’s small-cap stock classification formula is likely to face challenges in the upcoming semi-annual reclassification, especially given the significant uptick in stock prices and the listing of new companies. The market capitalisation of stocks in the small-cap category, as per the existing formula, surpasses $3 billion (₹25,000 … Read more
