HDFC Bank hits new high; market-cap inches closer to Rs 4 lakh crore mark

With m-cap of Rs 3.93 lakh cr, HDFC Bank is less than 2% away from joining Rs 4 lakh cr m-cap club

HDFC Bank hit a new high of Rs 1,538, up 2.7%, extending Friday’s 2.4% gain on BSE, after the private sector lender reported a better-than-expected net profit for the quarter ended March 2017 (Q4FY17).

In past one-week, HDFC Bank outperformed the market by gaining 7% as compared to a marginal 0.32% rise in the S&P BSE Sensex.

With the strong rally in stock, the market valuation of HDFC Bank has inches closer to the Rs 4 lakh crore mark.

With the market capitalization (m-cap) of Rs 3,92,954 crore, the HDFC Bank is Rs 7,000 crore or less