HDFC Bank Market Cap Crosses Rs 14 Lakh Crore

28 Nov 2024 , 02:19 PM

Following the stock of India’s largest private lender reaching a new record high of Rs 1,836.05 on the BSE on Thursday, HDFC Bank’s market capitalisation crossed Rs 14 lakh crore for the first time.

The market capitalisation peaked at Rs 14,00,710 crore, but profit-taking in the wider markets caused it to decline.

HDFC Bank shares were down 1.32% at Rs 1,788.40 at 14:17 p.m. The stock increased 1.4% earlier in the day to hit a record high of Rs 1,836.05.

With a market valuation of Rs 17.38 lakh billion, HDFC Bank is the third most valuable listed corporation in India, behind Tata Consultancy Services and Reliance Industries (RIL).

After Reliance Industries (RIL), which has a market value of Rs 17.38 lakh crore, and Tata Consultancy Services (TCS), which has a market value of Rs 15.46 lakh crore, HDFC Bank is the third most valuable listed corporation in India.

According to current market estimates, HDFC Bank lags behind RIL by 24.1%, while the difference between it and TCS is only 10.4%.

HDFC Bank’s standalone profit after tax increased by 5.3% year over year (YoY) to Rs 16,821 crore in Q2 FY25. The bank’s net interest income (NII) increased 10% year over year to Rs 30,113 crore during the quarter.

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