Good news for Mukesh Ambani, Sunil Mittal as Reliance earns Rs 50070 crore, Airtel gets Rs 54055 crore due to...

Indian billionaires Mukesh Ambani and Sunil Mittal have amassed a substantial amount through their flagship firms, Reliance Industries and Bharti Airtel. The market valuation of Reliance jumped by Rs 50,070.14 crore, while Airtel earned Rs 54,055.96 crore after their shares surged last week. The mcap of Bharti Airtel climbed to Rs 11,04,469.29 crore and that of Reliance to Rs 19,82,033.60 crore in just five days from June 16 to June 20. Reliance and Airtel emerged as the biggest gainers, in-line with an optimistic trend in equities. Last week, the BSE benchmark gauge jumped 1,289.57 points, or 1.58 per cent. 

Reliance Industries shares

The shares of the Ambani-led company rose by 2.51 per cent last week and closed at Rs 1,464.10 on NSE. In the ranking of the top-10 firms, Reliance Industries retained the title of the most-valued firm.

Bharti Airtel shares

The shares of Airtel, the second-largest telecom company in India, rose by 3.04 per cent last week and closed at Rs 1,934 on NSE. The Mittal-led company was the fourth most-valued firm during the same period.

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Besides Reliance Industries and Bharti Airtel, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India and Infosys were the gainers. Tata Group's TCS, LIC, Bajaj Finance, and Hindustan Unilever faced erosion from their market valuation last week. The combined market valuation of six of the top-10 most-valued firms jumped Rs 1,62,288.06 crore last week, with Bharti Airtel and Reliance Industries.

(With inputs from PTI)