India’s stock market ended the week on a weak note, but some of the country’s biggest companies still managed to create strong value for investors. Even though the benchmark indices slipped due to global uncertainty, four of India’s 10 most valuable companies added nearly ₹93,000 crore to their combined market capitalisation.
During the trading week ending July 12, the BSE Sensex fell 194.52 points, or 0.25%, while the NSE Nifty50 dropped 63.95 points, or 0.26%. Rising tensions between the United States and Iran pushed crude oil prices higher, affecting overall market sentiment.
Despite the market decline, HDFC Bank, Bharti Airtel, Reliance Industries, and Life Insurance Corporation (LIC) posted strong gains. Together, these four companies added ₹92,995.48 crore to their market value. At the same time, six other major companies, including Hindustan Unilever, Larsen & Toubro, Tata Consultancy Services (TCS), Bajaj Finance, ICICI Bank, and State Bank of India, lost a combined ₹49,294.13 crore in market capitalisation.
Among the gainers, HDFC Bank added ₹35,808.09 crore to its market value, followed closely by Bharti Airtel with a gain of ₹34,896.92 crore. Reliance Industries remained India’s most valuable listed company after adding ₹6,224.97 crore, while LIC gained ₹16,065.5 crore during the week.
HDFC Bank and Bharti Airtel Continue Strong Growth
HDFC Bank attracted strong investor interest after reporting healthy business growth for the June quarter. The bank’s gross advances increased 15.4% year-on-year to ₹30.61 lakh crore, while deposits grew 14.7% to ₹31.71 lakh crore. These numbers show that the bank is managing its business well after the merger with HDFC Ltd.
The bank also announced its first-ever 1:1 bonus share issue along with a special interim dividend of ₹5 per share. This move was welcomed by investors and helped improve market confidence. Although low-cost CASA deposits grew at a slower pace than fixed deposits, putting some pressure on profit margins, the bank’s overall performance remained strong.
Bharti Airtel also continued its impressive run. Instead of only focusing on adding new customers, the telecom company has been increasing earnings from existing users through 4G and 5G upgrades and higher-value plans.
The company’s Average Revenue Per User (ARPU) remained above ₹250 in recent quarters, even though international roaming revenue was affected by the West Asia crisis. Airtel believes telecom tariffs in India are still too low, and many analysts expect another price hike later this year.
The company has also expanded its 5G network across the country while growing its home broadband and enterprise businesses. Its data centre business, Nxtra, is expected to become an important growth driver in the coming years.
Reliance Industries Maintains Its Leadership
Reliance Industries continued to hold the title of India’s most valuable listed company with a market capitalisation of ₹17.71 lakh crore. While its oil-to-chemicals business remains important, investors are now giving more value to its consumer businesses, especially Jio and Reliance Retail.
These businesses are expected to drive most of the company’s future earnings growth. Reliance’s latest quarterly results showed double-digit growth in revenue and healthy growth in net profit. Jio continued adding subscribers while improving its average revenue per user and maintaining strong operating margins.
Reliance Retail also continued expanding by opening more stores and recording steady sales growth. At the same time, the company has been improving capital efficiency through major investments and stake sales, including its investment in the merged Viacom18-Disney India business and the sale of part of its stake in Asian Paints.
Investors are now waiting for Reliance Industries’ upcoming quarterly results, where the company is expected to share updates on its digital business, retail operations, new energy projects, and the much-awaited IPO plans for Jio and Reliance Retail.
Large-Cap Stocks Stay Strong Despite Market Pressure
Although global tensions and rising crude oil prices put pressure on the Indian stock market, the performance of the country’s biggest companies shows that investors still have confidence in businesses with strong financial performance and long-term growth potential.
The difference between the falling benchmark indices and the rising market value of several leading companies shows that investors are becoming more selective instead of selling across the market.
While companies such as Hindustan Unilever, Larsen & Toubro, TCS, Bajaj Finance, ICICI Bank, and State Bank of India saw their market value decline during the week, the gains recorded by HDFC Bank, Bharti Airtel, Reliance Industries, and LIC helped balance the overall picture.
With the next round of quarterly earnings set to begin, investors will closely watch the financial performance of India’s largest companies to see whether they can continue delivering strong growth despite global economic challenges.