HDFC Bank Outpaces Adani Group with ₹28,000 Crore Market Cap Boost

23 Oct 2024 , 07:54 PM

HDFC Bank Surpasses Adani Group by ₹28,000 Crore in Market Cap Surge. HDFC Bank’s shares surged by 6% from their October lows, pushing its total market capitalisation to ₹15.6 lakh crore. This places HDFC Bank ₹28,000 crore higher in market value than Adani Group.

Tata Group remains the largest conglomerate with a market cap of ₹32.4 lakh crore, followed by Reliance Group at ₹21 lakh crore.

Over the past three months, all ten Adani Group companies saw declines, with stocks like Adani Total Gas, Adani Power, Ambuja Cements, ACC, and NDTV dropping by 15% to 22%. In contrast, HDFC Group companies posted returns between 5% to 14.3% during the same period.

HDFC Bank alone contributes 84% of the HDFC Group’s total valuation, while Adani Enterprises and Adani Ports each account for around 20% of the Adani Group’s value. Adani Enterprises leads the Adani Group with a market cap of ₹3.3 lakh crore.

Despite HDFC Bank underperforming over the last five years, post-September quarter results showed a surge in investor interest due to better-than-expected earnings.

 Adani Group’s market capitalisation had dropped below ₹7 lakh crore in February 2023 but rebounded to ₹19.4 lakh crore by June 2024.