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HDFC shares hit new high; market cap reaches Rs 5 lakh crore

The mortgage lender’s market cap touched Rs 5.03 lakh crore during the day, as the stock gained nearly 90% from its March lows.

SNS | New Delhi |

On Friday, shares of Housing Development Finance Corp Ltd (HDFC) touched a record high on Friday, taking its market capitalisation to over the Rs 5 lakh crore mark.

Its shares on the BSE touched a new high of Rs 2,808.75.

Around 1.10 pm, HDFC’s shares were at Rs 2,798, higher by Rs 39.35 or 1.43 per cent from its previous close.

The mortgage lender’s market cap touched Rs 5.03 lakh crore during the day, as the stock gained nearly 90% from its March lows.

HDFC Ltd became the sixth Indian company to have achieved this milestone, after Reliance Industries Ltd, Tata Consultancy Services Ltd, HDFC Bank Ltd, Hindustan Unilever Ltd, and Infosys Ltd.

On Friday, in a regulatory filing, the company said: “The Allotment Committee of the Corporation at its meeting held today approved allotment of 17,36,497 equity shares of Rs 2 each under distinctive numbers 1800195903 to 1801932399 pursuant to exercise of stock options by certain director and employees of the corporation.”

After the above allotment, the paid-up share capital of the corporation is over Rs 360.38 crore consisting of 180.19 crore equity shares of Rs 2 each, it added.