The bank became the third domestic company in India to exceed Rs 1.5 lakh MCAP MARK, not SBI, ICICI
So far, only Mukesh Ambani’s Reliance Industries and TCS have received a market cap of Rs 1.5 lakh (MCAP).
HDFC Bank has become the third company in the country to exceed market capitalization of over Rs 15 billion. HDFC Bank shares climbed nearly 2% on Tuesday, achieving the feat. The stock rose 1.78% to sell for Rs 1,961.90 in BSE. During the day, it jumped 2.23% to Rs 1,970.65 – a record high. In NSE, the stock rose 1.70% to Rs 1,960. The stock has grown 11.12% since April 9, with its market valuation increasing by Rs 1,50,289.64 crore to Rs 15,012,8937 crore.
So far, only Mukesh Ambani’s Reliance Industries and Tata Consultancy Services (TCS) have received a market capitalization of Rs 1.5 lakh (MCAP). Reliance Industries has a market valuation of Rs 17,469,616.8 crore, while Tata Group IT company TCS has a market valuation of Rs 12,004,995.
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HDFC bank purchases help drive the stock market higher. 30 shares of BSE Sensex climbed to 187.09 points, or 0.24%, and settled 79,595.59. NSE Nifty rose 41.7 points, or 0.17%, to 24,167.25. HDFC Bank reported on Saturday that consolidated net profit in the March quarter rose 7% to Rs 18.335 crore, but priced around the price of home and corporate loans, which would affect its loan growth. The country’s largest private lender reported on an independent basis, net profit of Rs 176.16 crore for the quarter compared to Rs 165.12 crore for the same period last year.
(Input with PTI)
