HDFC Bank m-cap crosses Rs 5 lakh crore mark

NEW DELHI: HDFC Bank on Thursday breached a market valuation of Rs 5 lakh crore, becoming the third company to achieve this milestone after RIL and TCS.

HIGHLIGHTS

• The stock of the bank hit one-year high of Rs 1,953.75, up 3.31 per cent
• Shares of the private lender have gained nearly 5 per cent so far this year

The bank's market capitalisation (m-cap) stood at Rs 5,02,859.55 crore in afternoon trade, making it the first bank to cross Rs 5 lakh crore m-cap mark.The stock hit one-year high of Rs 1,953.75, up 3.31 per cent. Shares of the company were trading 2.82 per cent higher at Rs 1,944.50 apiece on BSE at 1340 hrs.

In terms of equity volume, 1.44 lakh shares of the company were traded on BSE and over 27 lakh shares changed hands on NSE during the day.

Shares of the bank have gained nearly 5 per cent so far this year.Reliance Industries (RIL) is the country's most valued firm with a market valuation of Rs 5,85,539.19 crore, followed by TCS (Rs 5,54,281.97 crore), HDFC Bank, ITC (Rs 3,34,323.28 crore) and HDFC (Rs 3,04,109.53 crore).