HDFC Bank surpasses TCS to become India's second most valuable company
HDFC, the country's second-largest bank, is now the second-largest company by market capitalization. HDFC and HDFC Bank merged on July 1, the biggest deal in corporate history. HDFC Bank today achieved this feat by beating TCS. Know who are the top 5 companies of India.
HDFC Bank has achieved another milestone today. HDFC, the country's second-largest bank, has now become the second-largest company in terms of market capitalization. HDFC and HDFC Bank merged on 1 July.
HDFC Bank has today overtaken IT giant Tata Consultancy Services (TCS) to become the second most valuable company by market capitalization.
At the end of trading today, HDFC Bank's market capitalization (MCAP) stood at Rs 12,72,718.60 crore, higher by Rs 5,826.95 crore over TCS's Rs 12,66,891.65.
Shares of HDFC Bank closed at Rs 1,688.50, up 0.22 percent, on the BSE today. During the day, it had climbed 0.36 percent to Rs 1,690.95.
Shares of TCS, however, closed 0.25 percent lower at Rs 3,462.35. During the day, it fell 1 percent to Rs 3,436.
HDFC and HDFC Bank merged on 1 July for US$40 billion, the largest such deal in Indian corporate history.
Reliance Industries is the most valuable company in the country with a market valuation of Rs 17,72,455.70 crore, followed by HDFC Bank at number two, TCS at number three, ICICI Bank at number four (Rs 6,96,538.85 crore) and Hindustan Unilever (Rs 6,34,941.79 crore) at fifth.
HDFC Bank is the most valuable bank in the country by mCap, followed by ICICI Bank with a market valuation of Rs 6,96,538.85 crore, and State Bank of India (Rs 5,44,356.70 crore) at number three.
The 30-share BSE Sensex closed at its new all-time high of 67,571.90, up 474.46 points or 0.71 percent. During the day, it rose 521.73 points, or 0.77 percent, to its lifetime intra-day peak of 67,619.17.
