HDFC Bank pips TCS to become second-most valued company on BSE

At 10.45 am, the bank’s market value stood at Rs 4,71,323 crore compared with TCS’ Rs 4,70,780.75 crore. NSEBSEHDFC bankLoading data…

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    ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESTCSLoading data…

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      ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESReliance IndustriesLoading data…

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              ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIESONGCInfosysHDFC bankEXPAND TO VIEW ALL NEW DELHI: HDFC Bank on Tuesday pipped Tata Consultancy Services to become the second most valued company in terms of market capitalisation, thanks to a 53 per cent jump in the shares of former this year on quarter-after-quarter strong results. TCS, on the other hand, has seen its shares rising mere 4 per cent this calendar amid a slowdown in IT industry.

              At 10.45 am, the bank’s market value stood at Rs 4,71,323 crore compared with TCS’ Rs 4,70,780.75 crore.

              «HDFC Bank has a pre-eminent presence in the retail banking segment (50 per cent of loan book) and has been able to maintain strong and consistent loan book growth, gradually gaining market share. Going forward, economic recovery and improvement in consumer sentiment would be positive growth drivers for the bank’s loan growth, which will in turn drive its profitability,» said brokerage Sharekhan in a note.

              Reliance Industries with market capitalisation of Rs 5,33,070 stood at the top of the list. Meanwhile, HDFC climbed to number 5 position with ONGC at the tenth spot. Infosys dropped out of top 10 list.

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