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Chip-maker <keyword id="19912297" type="General" weightage="20" keywordseo="nvidia" source="keywords">Nvidia</keyword>'s market capitalisation rose to $1.83 trillion on Wednesday, nudging past <keyword id="6357623" type="General" weightage="20" keywordseo="alphabet" source="Orion">Alphabet</keyword>'s $1.82 trillion market cap, a media report said. Santa Clara-based chipmaker's shares rose 2.5 per cent to $739, while Alphabet shares ended the session at $145.94, CNN reported. Earlier this week, Nvidia surpassed Amazon, closing with a higher market cap on Tuesday for the first time since 2002, CNN reported. Nvidia shares have been on a tear since 2023, when investors swept up in AI hype bought up shares of Big Tech stocks, spurring a bull market against a backdrop of sky-high interest rates and leading the S&amp;P 500 index to jump 24 per cent last year. Nvidia has been the biggest beneficiary of the AI mania dominating Wall Street. The stock is up 49 per cent this year after soaring 239 per cent in 2023, CNN reported. Most of the Magnificent Seven, the group of tech stocks that have led the bull market, have continued to race even higher this year with Nvidia leading the pack. But some investors are sceptical that they can match their staggering gains from last year. "The valuation for this company is based on a very rapid growth rate. Anything that could potentially derail that growth rate would have a very negative impact on that valuation," wrote <keyword id="20594737" type="General" weightage="20" keywordseo="dave-sekera" source="keywords">Dave Sekera</keyword>, chief US market strategist at Morningstar, in a note on Monday. "Investors should proceed with caution," CNN reported. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/vibhor-steel-tubes-continues-impressive-run-subscribed-more-than-100-times-on-day-two/articleshow/107694145.cms">Vibhor Steel Tubes continues impressive run, subscribed more than 100 times on day two</a> <a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms">Poco, OnePlus top Indian smartphone shipment growth but overall reading flat</a> <a href="https://www.businessinsider.in/tech/news/using-ai-to-impress-someone-this-valentines-nearly-50-say-they-will-be-offended/articleshow/107656212.cms">Using AI to impress someone this Valentine’s? Nearly 50% say they will be offended</a>

Nvidia market capitalisation surpasses Alphabet

<ul><li>Indian tech major, <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata consultancy services</keyword>, surpassed US tech giant IBM after Monday’s trade. </li><li>Once about to be sold to IBM, <keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> witnessed 23% increase in brand value in 2018-19, and now stands at $120.5 billion. </li><li>This year, IBM <a href="https://www.bloomberg.com/news/articles/2019-04-16/ibm-results-reflect-slowing-pace-in-cloud-unit-pinned-for-growth">slowed down after reporting a decline</a> in revenue from cloud computing and artificial intelligence, that the company is hanging its future on, according to a Bloomberg report </li></ul> Homegrown technology major Tata Consultancy Services surpassed American tech giant in market value, IBM after Monday trade closed. At the day’s close, TCS’ market capitalization stood at $120.5 billion while that of IBM stood at $119.6 billion, reported the <a href="https://timesofindia.indiatimes.com/business/india-business/with-120-5bn-m-cap-tcs-valued-more-than-ibm/articleshow/69732416.cms">Times of India</a>. The financial year 2018-19 has proved to be a big one for TCS. The company witnessed a 23% increase in brand value. Its market capitalization crossed the $100 billion mark in 2018 to become the world's third largest IT service brand. The tale of two IT majors It is interesting to note that IBM and TCS were partners once. And, IBM had to tried to buy out TCS. IBM, which entered the Indian market first in the 1950’s, decided to leave in the 1970’s due to India’s intentions to take control of foreign subsidiaries. The heart of this decision was India’s Foreign Exchange Regulations Act, which required most of the foreign companies to divest 60% of the equity of their subsidiaries to local shareholders by the end of 1977. IBM again entered the Indian market in 1992, with a Tata joint venture, named Tata Information Systems. A statement from the office of Cyrus Mistry <a href="https://timesofindia.indiatimes.com/business/india-business/Ratan-Tata-wanted-to-sell-TCS-to-IBM-in-90s/articleshow/55570678.cms">claimed</a> on Tuesday, that Ratan Tata once tried to sell TCS to IBM. The statement said that Tata, who was then heading the joint venture between TCS and IBM, had approached JRD Tata, the chairman of TATA Sons, with a proposal from IBM to buy out TCS. This, it said, happened when F.C.Kohli, the founding father of the Indian software industry and then TCS boss, was unwell. But the move was rejected by JRD Tata, after consultations with Kohli.

After becoming the third largest IT service brand in the world, TCS surpasses IBM in market cap

Tata Group's largest companies by market capitalisation

Top six Indian companies added a total of Rs 30,505.3 crore in market valuation last week, with IT biggie TCS walking away with the biggest slice, according to the PTI. 
 
While TCS, RIL, HDFC Bank, ITC, HDFC and SBI were on the winner's side of market capitalisation (m-cap) for the week to Friday, ONGC, Infosys, CIL and HUL ran up losses. 
 
The break-up of the top-10 most-valued companies shows that TCS' m-cap surged Rs 9,743.76 crore to Rs 5,00,843.37 crore. 
 
The valuation of RIL soared Rs 7,444.94 crore to Rs 4,15,683.74 crore and that of HDFC Bank jumped Rs 6,054.59 crore to Rs 3,58,461.96 crore. 
 
SBI's valuation went up by Rs 5,501.72 crore to Rs 2,16,919.19 crore and that of ITC advanced by Rs 1,577.91 crore to Rs 3,19,526.69 crore. 
 
The m-cap of HDFC too went up by Rs 182.38 crore to Rs 2,17,669.05 crore. 
 
On the other hand, CIL lost its valuation by Rs 3,165.78 crore to Rs 1,96,495.54 crore. 
 
The m-cap of Infosys declined by Rs 2,538.12 crore to Rs 2,34,311.33 crore and ONGC's was down by Rs 2,053.32 crore at Rs 2,45,628.12 crore. 
 
HUL too let go of Rs 649.29 crore at Rs 1,89,192.62 crore. 
 
TCS managed to keep its numero uno position, followed by RIL, HDFC Bank, ITC, ONGC, Infosys, HDFC, SBI, CIL and HUL. 
 
In terms of weekly show, the Sensex advanced 113.78 points, or 0.39 per cent, and the Nifty 37 points, or 0.41 per cent.

These are the companies that won market capitalisation last week

New Delhi, Mar 17 () Dispelling rumours about its financial health after the Yes Bank crisis came to light, RBL Bank on Tuesday said it was financially strong, well-capitalised, profitable and a growing entity with a strong governance set-up.The lender said market rumours around financial health and stability of the bank are totally misplaced, motivated and not based on facts.Last week also, the bank said it was "well capitalised" and there is no adverse change in its asset quality. The statement came in the wake of the Yes Bank crisis, following which stock prices of various banks went down sharply."In the wake of the significantly higher level of market rumours and speculation around RBL Bank stock, we would like to reiterate what we said on March 11, 2020 and wish to reemphasize that RBL Bank is financially strong, well-capitalized, profitable, and a growing entity with a strong governance set-up," the bank said in a statement on Tuesday.RBL Bank is well capitalized with a capital adequacy ratio of 16.08 per cent with tier-1 at 15.02 per cent, which is significantly higher than the prescribed regulatory requirement at 11.5 per cent and 9.5 per cent, respectively, it said."There has been no material adverse change in the asset quality since we announced our Q3 financial results on Jan 22, 2020 and our guidance remains consistent," the statement said.The bank also urged all its stakeholders to not believe in unsubstantiated information and mischievous rumours. SID SID ANUANU

We are financially strong and well-capitalised: RBL Bank

New Delhi, Mar 8 () Allaying concerns over banking sector health in the wake of Yes Bank fiasco, Chief Economic Adviser Krishnamurthy Subramanian on Sunday said Indian banks are well capitalised and there is no reason to worry.He further said that it is a wrong method to assess a lender's health based on the ratio of deposit to m-cap (market capitalisation)."What I want to emphatically state that the m-cap ratio is a totally incorrect metric for assessing the safety of the banks. No banking sector expert or banking regulator uses this measure," Subramanian said while addressing a select mediapersons at his office here.After what all unfolded about the crisis-hit Yes Bank recently, top government functionaries including Finance Minister Sitharaman, RBI Governor Shaktikanta Das and the chief economic advisor have been trying to assuage panicked investors.The CEA said that no banking sector experts or regulators use deposit/m-cap ratio as a measure to gauge resilience of banks rather it is the capital to risk weighted assets ratio (CRAR) and other such metrics that can rightly gauge the health of banks."What banking sector experts and regulators use is what is called the CRAR. It is important to keep this in mind that the international norms for CRAR is 8 per cent and Indian banks on an average have a CRAR of 14.3 per cent. "So, 8 per cent is the mandated minimum norm and our banks on the average have 14.3 per cent (CRAR). Now 14.3 per cent versus 8 per cent almost translates into 80 per cent greater capital than the international norms," he said.He further said that the Reserve Bank of India (RBI) mandates the Indian banks to keep CRAR at 9 per cent. "Even compared to that our banks have 60 per cent more capital. So this is something that is very important."Giving reasons as to why the deposit/m-cap ratio is an incorrect measure to assess the health of the banks, he said the m-cap ratio is essentially the ratio of the deposits that a bank has to its market capitalisation."Now if you compare for instance any bank lets say a private sector bank with the State Bank of India, State Bank of India would have an order of magnitude of higher m-cap ratio. "But the State Bank of India is as safe as the any other bank in the world. In fact it is the only Indian bank to be the part of the top 100 banks internationally."So this ratio does not really capture the safety of a bank because it is actually affected by the market capitalisation. "As you all know the stock price of a bank can change minute to minute, as a result the m-cap ratio will also change minute to minute but the solvency cannot change minute to minute," Subramanian said.He also emphasised that the Indian banks on an average have a CRAR of 14.3 per cent, which is way more higher -- about 80 per cent greater than the global measures."So our banks on an average are very-very well capitalised, so there is absolutely no reason to worry. Also, the government has increased the limit for deposits that are insured to up to Rs 5 lakh, which covers a large majority of the deposits."Together with the fact that our banks are well capitalised and the fact that the deposits are well taken care of, there is absolutely no reason for anyone to worry," he said. A day after imposing a 30-day moratorium on Yes Bank and capping withdrawal limit at Rs 50,000, the RBI on Friday evening had issued a draft reconstruction scheme for the private sector lender. As per the RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. KPM MKJ

Indian banks well capitalised, no reason to worry: CEA

State-owned lender, <keyword id="6354731" type="General" weightage="80" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> (SBI) hit the Rs 5 lakh crore market capitalisation on Wednesday after its shares touched a record high of Rs 564.45. With this market capitalisation, SBI stood on the seventh position in the market capitalisation ranking. SBI has become the third lender in the country to cross the market cap of Rs 5 lakh crore. <keyword id="6357149" type="General" weightage="80" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> held first rank in this list, which was followed by <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>. At 1.10 p.m., SBI shares were up Rs 14.75 or 2.64 per cent at Rs 573.00. Meanwhile, <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> was trading 126.21 points or 0.21 per cent down at 60,444.87, and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> was 32.90 points or 0.18 per cent down at 18,037.15. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/patreon-lays-off-17-of-its-staff/articleshow/94198385.cms">Patreon lays off 17% of its staff</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/india-to-assume-g20-presidency-for-one-year-from-december-2022-host-over-200-meetings-and-mea-lists-priorities/articleshow/94194674.cms">India to assume G20 Presidency for one year from December 2022; host over 200 meetings and MEA lists priorities</a>

SBI hits ₹5 lakh crore market capitalisation

<a href="http://www.businessinsider.in/This-is-why-it-is-the-best-time-to-become-a-full-time-gamer/articleshow/51793204.cms">Startups enter a new genre of competition</a> by going against each other in a one-on-one pitch battle inside a boxing ring as a part of the Indian chapter of a global startup competition, 'Get in the Ring' hosted by National Association of Software and Services Companies (<keyword id="6372077" type="CITY" weightage="100" keywordseo="Nasscom">NASSCOM</keyword>). After sweating it out in an enthralling performance in the ring, Nukkadshops has qualified to represent India at the Finals of the Get In the Ring; a unique startup pitching model mimicking a boxing match which assesses the potential of a startup in quick five 30-second back to back duels between two competitors standing in a ring. 

	Vivek Shukla, Founder at Nukkadshops commented, “We are very excited to win GITR, it was an amazing experience for us. Winning GITR will help Nukkad Shops in generating more exposure at a global platform towards the good work we have been doing for local retailer community. We are thankful to <a href="http://www.businessinsider.in/Heres-all-you-need-to-know-about-Nasscoms-10K-startups-programme/articleshow/51714462.cms">Nasscom 10000 startups</a> for providing us this platform.”
 

	To capitalize on the <a href="http://www.businessinsider.in/Key-success-factors-of-women-entrepreneurs-in-Indian-startups/articleshow/51810163.cms">local talent </a>and expand the outreach of these <keyword id="6362513" type="ORGANIZATION" weightage="100" keywordseo="Startups">startups</keyword>, NASSCOM 10k provided an opportunity to start-ups to participate in a pitch battle where two start-ups were pitted against each other. During the investment battle, two startups pitched at the same time in a five round verbal sparring in front of a full-house audience. During five brief rounds they presented their startup to a jury of champion investors, and an audience of potential investors and fans, in a competition that will result in a potential investment for the winner. 

	Mr. Rajat Tandon, Vice President, NASSCOM 10 K start-up program, said “Platform like GITR is ideal for young entrepreneurs who are looking at getting an extended exposure to the startup community of other countries. It gives the startups visibility internationally which is useful for market access. Initiative like GITR will not only support current startups in India by facilitating them in scaling up their operations, but will also encourages more people to join the league”.
 The reward for the winner includes a flight ticket to the international finals, credits from Amazon, Cameras and credits from <keyword id="10387" type="CITY" weightage="100" keywordseo="Microsoft">Microsoft</keyword> and <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> pitch with Indian Angel Network for the semifinalists. 

	The unique challenge saw participation from 32 startup which included both Indian and International ones. This was internationally the Kickoff event of the new GITR season. The international event which is targeted at innovative startups in India and abroad was co-hosted by DHI Labs, a German based Start-up Incubator venture at Impact Chapter: Startup Challenge in Hyderabad. The event was held at Hyderabad International Convention Centre (HICC), HICC Complex , Near HITECH City, Hyderabad, Telangana. Between 2012 and 2014, the concept of Get In The Ring spread rapidly around the world. After three editions, Get in the Ring was organized in 64 countries and saw participation from more than 3,000 startups.

	 
	 
	(Image credits: indiatimes)

Startups enter boxing ring to capitalise their talent

New Delhi, Mar 11 () Mangaluru head-quartered Karnataka Bank on Wednesday said it is well capitalised, fundamentally strong bank and depositors need not worry about safety of their money."We have been consistently maintaining CRAR above the minimum prescribed by the RBI as well as the bank's internal policy. "As per the audited balance sheet as on 31 March 2019, Capital to Risk Weighted Assets Ratio (CRAR) of Karnataka Bank stood at 13.17 per cent which is well above the minimum regulatory prescription," Karnataka Bank Managing Director and CEO Mahabaleshwara M S said in a statement.Allaying fears of depositors, he further said the bank is in existence for over 96 years which is built on the trust of its 11 million satisfied customers across the country, is well capitalized, professionally managed and a fundamentally strong bank.Mahabaleshwara appealed customers not to be carried away by any misleading and absurd reports on the banks on the television or social media."Across the globe, the health of a bank is measured by referring to Capital to Risk Weighted Assets Ratio (CRAR) and not by referring to the so called M-Cap (market capital) to deposit ratio," he said.Earlier last week, the Chief Economic Adviser Krishnamurthy Subramanian had also clarified that globally also the M-cap ratio is not the right metric to measure banks' health and financial position.Besides, the Reserve Bank of India (RBI) as well as SBI chief Rajnish Kumar and other banking experts have categorically endorsed the views and asserted that banks in India are well capitalized and are safe and healthy.Karnataka Bank was the third private sector lender on Wednesday that came up with statements on its financial position. Earlier in the day, RBL Bank and Karur Vysya Bank (KVB) had also issued statements, urging depositors not to fall prey to unfounded rumours in the aftermath of the Yes Bank crisis that has shaken customers confidence in the banking system. KPM MRMR

Karnataka Bank allays depositors concerns, says well capitalised

New Delhi, Mar 18 () Private sector lender IndusInd Bank has said it is financially strong, well-capitalised and profitable, amid market rumours about the health of the lender after the Yes Bank crisis came to light."In the wake of the significantly higher level of market rumours and speculation around IndusInd Bank stock, we would like to reiterate that the Bank is financially strong, well-capitalised, profitable, and a growing entity with a strong governance," it said in a late night statement on Tuesday.The bank's stock ended nearly 9 per cent down at Rs 604.30 on the BSE on Tuesday.The lender said gross non-performing assets (NPAs) in December quarter 2019 stood at 2.18 per cent which was lowest among large private sector banks."We expect current quarter gross NPA to be pretty much in line with that of last quarter. We expect our net NPA of 1.05 per cent as at the last quarter to fall below 1 per cent, in line with our ambition to take provision cover beyond 60 per cent," it said in the statement.Citing reports on relief measures to the telecom sector, IndusInd Bank said this is a significant positive step and the bank awaits further details on the matter.The bank noted that its latest gross NPA figure as at the end of February 2020 was zero with respect to real estate developer (commercial &amp; residential); gems and jewellery financing.Commercial vehicle and microfinance portfolios remain steady and range-bound, it added."Market rumours about individual exposures doing the rounds are bloated and outlandish and nowhere near the truth. The bank makes full disclosures every quarter on its loan book profile."On liquidity, it said the bank maintains liquidity well above 100 per cent going up to 120 per cent on a daily basis.The deposit business of the bank on both retail and corporate segments is steady. "However, a couple of state government entities have made withdrawals amounting to less than 2 per cent of our total deposits. We are engaging with them to reiterate the stance of the Regulator that Government deposits in all private sector Banks is safe," the bank said.The bank has been a lender in the interbank market last week and at 15.43 per cent CRAR --capital to risk weighted assets ratio -- (including 9 month profits), the bank does not need capital for 2 years."All our banking with other banks and counterparties is 'business as usual'. We continue to enjoy interbank lines / limits without interruption," said the lender.Also, the bank promoter has sought RBI approval to increase shareholding to 26 per cent and further guidance from the regulator is awaited.The promoter has already informed the exchange about the simultaneous release of non-disposal undertaking with the creation of a pledge in relation to 23.8 million shares of the bank. No new borrowing was undertaken and was merely a formalisation of a three-year old arrangement. The money was originally raised to make an overseas acquisition which did not fructify - the pledge is a small fraction of promoter holding in the bank, it said."Various market rumours and speculation incorrectly reflect on the Bank's financial health and are totally misplaced, motivated and not based on facts," the lender said. IndusInd Bank stock was trading 27.19 per cent down at Rs 440 on the BSE. KPM KPM ANUANU

We are financially strong and well-capitalised: IndusInd Bank

India just became the ninth largest equity market in the world as the stock <keyword id="118864" type="UNKNOWN" weightage="20" keywordseo="Market-capitalisation">market capitalisation</keyword> (M-cap) crossed $2 trillion. This was due to the relentless buying by local and offshore investors. As per the Bloomberg data, the increase in stock prices has pushed up India's M-cap-to-GDP ratio, a tool used by equity strategists to assess the relative valuation of a market, well above the 10-year average. "India has the largest number of listed companies in the world. Interestingly, nearly 50 per cent of the actively traded companies have M-cap of less than Rs 500 crore. This suggests that Indian companies go public much earlier than in most other large economies. The relatively high Mcap-to-GDP ratio in India, therefore, is reflective of strong appetite of Indian entrepreneurs to access public equity funding and the willingness of Indian equity investors to fund such entrepreneurs,” Sujan Hajra, chief economist at brokerage Anand Rathi, told ET. For India, the ratio had peaked at 1.48 in 2007. "India can see further expansion in the M-cap-to-GDP ratio as private and government capex kicks in. The possibility of rating upgrade by the year-end could push up the ratio further. It can reach 1.1 to 1.2,” A. Balasubramanian, CEO, Birla Sun Life Mutual Fund, told ET. India's contribution to global M-cap has risen to a six-year high of 2.7 per cent against a six-year average of 2.2 per cent .

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Nvidia market capitalisation surpasses Alphabet

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After becoming the third largest IT service brand in the world, TCS surpasses IBM in market cap

BI India Bureau

Tata Group's largest companies by market capitalisation

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These are the companies that won market capitalisation last week

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We are financially strong and well-capitalised: RBL Bank

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Indian banks well capitalised, no reason to worry: CEA

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SBI hits ₹5 lakh crore market capitalisation

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Startups enter boxing ring to capitalise their talent

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Karnataka Bank allays depositors concerns, says well capitalised

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We are financially strong and well-capitalised: IndusInd Bank

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India’s stock market capitalisation crosses $2 trillion; further expansion expected

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