The market capitalization (market cap) of HDFC Bank topped the Rs 14 trillion mark for the first-time ever on Thursday.
The stock price of the largest private sector lender hit a record high on the BSE.
Shares of HDFC Bank touched a new high of Rs 1,832.75, gaining 1.2% on the BSE in intra-day trade.
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The stock was trading higher for the fifth straight session, and has gained 5.2% during this period. Notably, on Monday, the stock crossed its previous high of Rs 1,791.90 touched on July 3, 2024.
The recent surge can be attributed to the MSCI rebalancing, which came into effect on Monday, November 25.
It is to be highlighted that analysts project an influx of around $2.5 billion into Indian markets, with HDFC Bank expected to receive a significant portion of this capital.
HDFC Bank is India’s third most-valuable listed company after IT major Tata Consultancy Services (TCS), which has a market cap of ₹15.60 lakh crore and Reliance Industries (RIL) with a market cap of ₹17.50 lakh crore.
HDFC’s stock, in the last one month, is up 4.8% while on a year-to-date (YTD) basis, it has gained 6%.
Meanwhile, in the last one year the stock of India’s most valuable lender has surged 18%.
In the last six months, HDFC Bank has outperformed the market by surging nearly 20%, as compared to 6.7% rise in the BSE Sensex.
In its recently released results for Q2FY25, HDFC Bank reported a 5.3% increase in standalone net profit to ₹16,821 crore, up from ₹15,976 crore in the same quarter last fiscal year.
