HDFC Bank Becomes Second Most Valuable Company Reliance Industries is the country's most valued firm with a market valuation of INR 17,72,455.70 crore
By Teena Jose
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HDFC Bank on Thursday became the second most valuable company by market capitalisation, overtaking IT behemoth Tata Consultancy Services, according to a PTI report.
At the close of trade, HDFC Bank, which recently completed the merger of its mortgage financier parent HDFC into itself, commanded a market capitalisation (mcap) of INR 12,72,718.60 crore, which was INR 5,826.95 crore more than TCS' INR 12,66,891.65 crore valuation on the BSE.
Reportedly, shares of HDFC Bank ended at INR 1,688.50 apiece, up 0.22% on the BSE. During the day, it climbed 0.36% to INR 1,690.95. However, shares of TCS dipped 0.25% to end at INR 3,462.35 each. During the day, it fell 1% to INR 3,436.
HDFC, the parent of HDFC Bank, merged into the lender on July 1.
The report further disclosed that Reliance Industries is the country's most valued firm with a market valuation of INR 17,72,455.70 crore, followed by HDFC Bank, TCS, ICICI Bank (INR 6,96,538.85 crore) and Hindustan Unilever (IR 6,34,941.79 crore) in the top five order.
Moreover, HDFC Bank is also the country's most valuable bank by mcap followed by ICICI Bank, which commanded a market valuation of INR 6,96,538.85 crore, and State Bank of India (INR 5,44,356.70 crore), stated the report.
