HDFC Bank Becomes Third Indian Company After RIL and TCS to Cross $100 Billion In Market Cap
The HDFC Bank on Thursday, December 19, crossed the $100 billion market capitalisation mark becoming the only third Indian firm to cross this feat. The other two companies with more than $100 billion valuations are Reliance Industries Ltd (market cap of $140.74 billion) and Tata Consultancy Services (market cap of $114.60 billion).
New Delhi, December 19: The HDFC Bank on Thursday, December 19, crossed the $100 billion market capitalisation mark, becoming the third Indian firm to cross this feat. The other two companies with more than $100 billion valuations are Reliance Industries Ltd (market cap of $140.74 billion) and Tata Consultancy Services (market cap of $114.60 billion). HDFC Bank Net Profit for Q2 Rises 25% to Rs 6,638 Crore.
With his development, HDFC Bank is now ranked 110th in the list of world’s most valued companies. As per Bloomberg data, currently, there are over 109 firms which have a market cap of more than $100 billion. Among the most valued banks and financial companies, HDFC Bank is placed at 26th rank. RBI Imposes Fine of Rs 1 Crore on HDFC Bank for Violating KYC Norms.
The Stock of HDFC Bank was trading 0.4 percent higher at Rs 1,297.50 on the Bombay Stock Exchange (BSE), while Sensex fell 0.09 percent to 41,519.69 points. In last one year, the stock jumped 22 percent. It may be noted that the private lender has been growing consistently at 20-22 percent. With market cap above regulatory requirements, HDFC is expected to perform better.
(The above story first appeared on LatestLY on Dec 19, 2019 12:55 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).