HDFC Bank, India’s largest private sector lender, has surpassed Rs 7 lakh crore market capitalisation (M-cap), becoming the only third Indian company after Mukesh Ambani’s Reliance Industries and Tata Consultancy Services. It is also the first bank to achieve the feat.
The market capitalisation of HDFC Bank reported Rs 7, 01,730.21 (7.01 lakh crore) for the first time ever, after shares of the private sector bank escalated near its 52-week high on Thursday.
Only Reliance Industries (RIL) and TCS have touched this milestone with a market capitalisation of Rs 9.38 lakh crore, followed by TCS with at Rs 8.28 lakh crore.
HDFC Bank Ltd. is India’s largest private sector lender by assets. It is headquartered in Mumbai and was founded in August 1994.