HDFC Bank surpasses Reliance, becomes second most valuable company

At 12:18 am, HDFC Bank m-cap stood at Rs 363,788 crore , while of RIL at Rs 345,341 crore on BSE

HDFC Bank, the private sector lender, replaced Reliance Industries (RIL) to become the second most valuable company in terms of market capitalization (m-cap) on BSE.

The stock of HDFC Bank surged to its record high of Rs 1,450, up 9% on BSE in early morning trade after  the Reserve Bank of India (RBI) removed restrictions placed on purchase of bank shares by foreign portfolio investors.

At 12.18 pm, shares of the HDFC Bank were quoting 7% higher at Rs 1,423 on BSE with m-cap of Rs 363,788 crore was at second positions in overall ranking. At the same time, RIL which is trading flat at Rs 1,065, was at number three rank with m-cap of Rs 345,341 crore.

Tata Consultancy Services (TCS) with m-cap at Rs 4,75,858 crore, still remains India's the most-valued company.

Thus far in the calendar year 2017, HDFC Bank has outperformed the market by gaining 18% as compared to 7% rise in S&P BSE Sensex. RIL was down 1%, while TCS up 2% during the same period.

Meanwhile, the combined m-cap of the HDFC Group crosses Rs 6 lakh crore m-cap. The group housing finance firm Housing Development Finance Corporation (HDFC) has m-cap of Rs 224,893 crore, while GRUH Finance have m-cap of Rs 13,958 crore, the BSE data shows.

	Price on BSE in Rs			M-cap in Rs crore			% chg
Company	30/12/2016	16/02/2017	17/02/2017	30/12/2016	16/02/2017	17/02/2017	1 day	YTD
TCS	2361.95	2446.90	2415.90	465,405	482,144	476036	-1.3	2.3
HDFC Bank	1204.20	1327.35	1422.80	307,715	339,574	363788	7.2	18.2
Reliance Inds.	1080.10	1064.95	1064.60	350,340	345,455	345341	0.0	-1.4
ITC	240.95	266.70	267.50	292,065	323,403	324374	0.3	11.0
ONGC	191.45	194.10	193.90	245,692	249,093	248836	-0.1	1.3
Infosys	1010.70	1011.90	1002.00	232,152	232,428	230154	-1.0	-0.9
HDFC	1262.45	1393.35	1418.00	200,110	220,977	224893	1.8	12.3
SBI	249.75	270.40	268.80	193,876	215,604	214328	-0.6	7.6
Coal India	300.00	318.25	315.15	189,491	201,018	195627	-1.0	5.1
Hindustan Unilever	826.30	846.65	843.45	178,834	183,238	182351	-0.4	2.1
Price, M-cap as on 17/02/2017 on BSE at 12:18 pm.