Indian markets saw a significant boost on September 29, with the top eight firms’ market capitalization increasing by ₹ 1.21 lakh crore. Meanwhile, former RBI governor Raghuram Rajan expressed concerns over insufficient job creation despite strong economic growth. Additionally, the IPO market remains active with numerous companies set to launch their offerings in the coming months.
Warren Buffett’s Berkshire Hathaway Inc has reached a significant milestone, becoming the first non-tech company to achieve a $1 trillion market capitalization. This achievement reflects Buffett’s enduring legacy of smart investment strategies and disciplined financial management, transforming the company from a struggling textile business into a global conglomerate with a diverse portfolio valued at over $300 billion. Despite its recent successes, investors must remain patient, recognizing that Berkshire’s stock, though rising consistently, also experiences periods of consolidation.
Berkshire Hathaway, under the leadership of Warren Buffett, has become the 10th public company to surpass the $1 trillion market capitalization milestone. This achievement makes it the first non-technology U.S. company to reach this mark and underscores the company’s long-term growth and success. The article examines the current list of $1 trillion companies, analyzes potential future candidates, and discusses the factors behind Berkshire Hathaway’s success.
The Indian stock market experienced a significant downturn last week, with eight of the top ten companies losing over Rs 1.28 lakh crore in market capitalization. IT giants TCS and Infosys were the hardest hit due to global recession fears. However, HDFC Bank saw a surge in its market cap, while LIC also gained. The broader market sell-off reflects potential exhaustion and consolidation due to premium valuations, weak Q1 results, and global market uncertainty.
This news update covers a range of topics, including market trends, corporate finance, public health concerns, and weather disruptions. Eight of the top ten most valued firms saw a significant increase in their market capitalization, led by TCS and LIC. Vedanta Limited successfully raised over $1 billion through a Qualified Institutions Placement (QIP). Meanwhile, a 14-year-old boy in Kerala succumbed to Nipah virus infection, prompting health officials to implement immediate measures. Heavy rains in Mumbai also caused widespread disruption, affecting flight operations, road, and rail services.
ICICI Bank has become the sixth Indian company to reach a market capitalization of over $100 billion, driven by strong performance and a robust loan growth strategy. The bank’s stock surged to an all-time high, propelling its market value to $105.55 billion. This achievement places ICICI Bank alongside other prominent Indian companies like Tata Consultancy Services and HDFC Bank.
Jensen Huang, CEO and founder of Nvidia, has ascended to the 11th richest person globally, surpassing Mukesh Ambani and Ratan Tata on the Forbes billionaire list. Nvidia has also become the world’s most valuable publicly traded company, exceeding tech giants Microsoft and Apple in market capitalization.
Shares of Delhivery Ltd. experienced a steep decline of 12% on May 21st, following the release of its Q4 financial results. Despite the company reporting a narrowing loss of ₹68.5 crore compared to the previous year’s ₹159 crore, brokerages have expressed mixed reactions to the performance.
Axis Bank has emerged as the fourth-largest lender in India in terms of market capitalization, surpassing Kotak Mahindra Bank. This shift was prompted by a steep decline in Kotak Mahindra Bank’s share price following regulatory sanctions imposed by the Reserve Bank of India (RBI). Axis Bank’s market cap reached Rs 3,42,488.70 crore on Thursday, while Kotak Mahindra Bank’s fell to Rs 3,29,597.28 crore.
EOS, a prominent cryptocurrency, has witnessed a significant increase of 10.11% over the past 24 hours, boosting its value to $0.9292. This upswing has increased EOS’s market capitalization to $1.0311 billion, representing a 0.04% share of the entire crypto market. EOS’s market capitalization once peaked at an impressive $17.5290 billion.
