Merged HDFC Bank: New entity will have market capitalisation of Rs 12.5 trn

Meanwhile, RIL had reported a consolidated net profit of Rs 66,702 crore and ICICI Bank Rs 34,037 crore in FY23

Starting Thursday, the merged HDFC Bank will take shape while its parent Housing Development Finance Corporation (HDFC) will cease to exist. The new entity will have a market capitalisation of Rs 12.5 trillion, making it the second-most valuable firm after Reliance Industries (RIL), which is currently valued at Rs 18.5 trillion.
 

However, given its large free float, HDFC Bank will dislodge RIL as the biggest weight in the Nifty50 and the Sensex. As per Nuvama, the merged entity will have 14.43 per cent weighting in the Nifty50, nearly 363 basis points more than RIL. In the Bank Nifty index, HDFC