In a first, HDFC Bank's market capitalisation tops Rs 15 trillion Samie Modak23 April HDFC Bank crossed the 15-trillion market capitalisation mark for the first time on Tuesday, becoming only the third Indian company to achieve this milestone.
The Mumbai-based financial giant's shares have surged 11 per cent over the past six trading sessions, driving this feat.
As HDFC Bank is the top weighted stocks in key indices such as Sensex, Nifty and the Bank Nifty, it has driven bulk of the latest market gains. On Monday, ICICI Bank also hit a milestone, with its market value surpassing 10 trillion for the first time. India now has five companies valued at 10 trillion or more.
They are Reliance Industries (17.5 trillion), Tata Consultancy Services (12 trillion), Bharti Airtel, HDFC Bank, and ICICI Bank. These five firms collectively represent 15 per cent of India's total market capitalisation, which stands at approximately 427.4 trillion ($5 trillion).
Shares of Reliance Industries and TCS are down approximately 20 per cent and 25 per cent, respectively, from their peaks. While the 10 most valued domestic firms are valued at over 5 trillion each.
Samie Modak/Business Standard
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