Home   »   Ranks & Reports   »   HDFC Bank becomes 2nd most valuable...

HDFC Bank becomes 2nd most valuable company; TCS falls to 3rd place

HDFC Bank achieved a significant milestone by surpassing Tata Consultancy Services (TCS) to become the second most valuable company in India based on market capitalization. The recent merger of its parent company HDFC into itself further bolstered the bank’s position.

Key Points:

HDFC Bank’s Market Capitalization:

  • HDFC Bank’s market capitalization stood at Rs 12,72,718.60 crore, overtaking TCS’ valuation of Rs 12,66,891.65 crore on the BSE.
  • The bank’s shares closed at Rs 1,688.50 apiece, registering a slight increase of 0.22% on the BSE.

TCS’ Performance:

  • TCS’ shares dipped by 0.25% to end at Rs 3,462.35 each on the same trading day.
  • During the day, TCS experienced a decline of 1% to Rs 3,436.

Merger of HDFC:

  • HDFC, the parent company of HDFC Bank, completed its merger into the bank on July 1.
  • The USD 40 billion merger marked the largest deal in the history of Indian corporate mergers.
  • The merger was driven by changes in regulatory requirements, which limited the benefits of HDFC continuing as a non-bank lending entity.

Top Five Valued Companies:

  • Reliance Industries retains its position as India’s most valued firm, with a market valuation of Rs 17,72,455.70 crore.
  • HDFC Bank follows in the second spot, followed by TCS, ICICI Bank (Rs 6,96,538.85 crore), and Hindustan Unilever (Rs 6,34,941.79 crore).
Rank Company Market Capitalization (Rs crore)
1 Reliance Industries 17,72,455.70
2 HDFC Bank 12,72,718.60
3 TCS 12,66,891.65
4 ICICI Bank 6,96,538.85
5 Hindustan Unilever 6,34,941.79

Ranking of Banks by Market Capitalization:

  • HDFC Bank holds the top spot as the country’s most valuable bank with a market valuation of Rs 12,72,718.60 crore.
  • ICICI Bank ranks second with a market valuation of Rs 6,96,538.85 crore, followed by State Bank of India (Rs 5,44,356.70 crore).

 Find More Ranks and Reports Here

 

HDFC Bank becomes 2nd most valuable company; TCS falls to 3rd place_40.1

 

HDFC Bank becomes 2nd most valuable company; TCS falls to 3rd place_50.1