 "HDFC Bank surpasses Reliance, becomes second most valuable company")
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.
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. | ||||||||
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%