HDFC Bank briefly pips RIL to become second most valued firm
HDFC Bank on Friday briefly toppled Reliance Industries to become the country's second most valuable company in terms of market valuation.
New Delhi: HDFC Bank on Friday briefly toppled Reliance Industries to become the country's second most valuable company in terms of market valuation.
During the afternoon trade at about 1332 hrs on BSE, RIL touched its day's low of Rs 1,003.10, down 2.53 percent. Taking the intra-day low figure into account, the company's market valuation stood at Rs 3,25,249 crore.
On the other hand, shares of HDFC Bank were quoting at Rs 1,285 during the same time, commanding a market valuation of Rs 3,25,754 crore, which was about Rs 505 crore more than RIL's mcap.
However, HDFC Bank's feat was short-lived as at close of trade, RIL reclaimed its tag as the second most valued firm, with a market capitalisation (m-cap) of Rs 3,28,477.87 crore.
The mcap of HDFC Bank stood at Rs 3,26,549.50, which is about Rs 1,928.37 less than RIL's valuation.
Shares of HDFC Bank ended the day with a gain of 0.33 percent at Rs 1,284.45, while RIL fell by 1.58 percent to Rs 1,012.85.
TCS is the most valued Indian company with a market valuation of Rs 4,95,267.06 crore followed by RIL, HDFC Bank, ITC and Infosys.
In stock market, the Sensex ended at 28,532.11, up 108.63 points.