HDFC Bank: HDFC Bank’s market cap crosses Rs 15 lakh crore

New Delhi| Shares of HDFC Bank rose nearly two per cent, taking the company’s market valuation (market cap) beyond Rs 15 lakh crore. It became the third company in the country to achieve this feat.

Shares of HDFC Bank closed 1.78 per cent higher at Rs 1,961.90 on BSE. It climbed 2.23 per cent to Rs 1,970.65 during trading, a record level. The company’s share rose 1.70 per cent to Rs 1,960 on the NSE. The share has risen 11.12 percent since April 9. Due to which its valuation increased by Rs 1,50,289.64 crore to Rs 15,01,289.37 crore.

HDFC Bank has so far only Reliance Industries and Tata Consultancy Services achieved market capitalisation (mcap) of Rs 15 lakh crore.

Reliance Industries has a market valuation of Rs 17,46,961.68 crore, while Tata Consultancy Services has a market capitalization of Rs 12,00,499.53 crore. Stock markets rose due to buying in HDFC Bank. The thirty-share BSE Sensex closed at 79,595.59 points, up 187.09 points, or 0.24 per cent. NSE Nifty closed at 24,167.25 points, up 41.7 points or 0.17 per cent.

HDFC Bank reported on Saturday that its consolidated net profit for the March quarter had increased by 7 per cent to Rs 18,835 crore. However, the bank raised concerns over pricing issues in the housing and corporate loan segments, affecting the bank’s credit growth.

On a standalone basis, the country’s largest private sector lender reported a net profit of Rs 17,616 crore for the quarter, compared to Rs 16,512 crore in the same quarter a year ago.