The second-most valuable company is now HDFC Bank, while TCS drops to third

On Thursday, HDFC Bank passed IT giant Tata Consultancy Services to become the second most valuable corporation by market capitalization.

At the conclusion of business, HDFC Bank had a market capitalization (mcap) of Rs 12,72,718.60 crore, which was Rs 5,826.95 crore more than TCS’s Rs 12,66,891.65 crore BSE value. HDFC Bank recently completed the merger of its mortgage financier parent HDFC into itself.

 

On the BSE, HDFC Bank shares closed the day at Rs 1,688.50 each, up 0.22 percent. It increased 0.36 percent during the day to Rs 1,690.95.

 

TCS shares, however, fell 0.25 percent to close at Rs 3,462.35 a share. It decreased 1% during the day to Rs 3,436.

 

On July 1, the lender and HDFC, the parent company of HDFC Bank, combined.

 

A shifting legal environment that reduced the benefits of HDFC operating as a non-bank lending business led to the USD 40 billion merger, the biggest such transaction in Indian corporate history.

 

With a market valuation of Rs 17,72,455.70 crore, Reliance Industries is the most valuable company in the nation. HDFC Bank, TCS, ICICI Bank (Rs 6,96,538.85 crore), and Hindustan Unilever (Rs 6,34,941.79 crore) round out the top five.

 

In terms of market capitalization, HDFC Bank is also the most valuable bank in the nation, followed by ICICI Bank (Rs 6,96,538.85 crore) and State Bank of India (Rs 5,44,356.70 crore).

 

The 30-share BSE Sensex increased by 474.46 points, or 0.71 percent, to close at an all-new high. This was 67,571.90. It gained 521.73 points or 0.77 percent during the day to reach its all-time intraday high of 67,619.17.