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HDFC, the most valued pvt bank in India
Surpassing ICICI, the HDFC bank on Tuesday became the most valued private sector bank of India on the back of soaring share prices in Indian Stock markets.
On Tuesday, the share price of HDFC Bank increased by over 6% to close at Rs 940.50 raising its market capitalisation to Rs 40,002 crore, while the strong contestant ICICI Bank’s share price surged by 2.
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44% to close at Rs 355.10 carrying its market capitalisation up to Rs 39,517 crore.
Till now, ICICI Bank was considered as the most valued bank in India while State Bank of India- a public sector bank was on the second position and HDFC bank was on the third, but the global economic crisis had hit the stock price of ICICI bank sternly since last October, which made SBI as the most valued bank.
Despite the global meltdown, HDFC recovered better as against ICICI Bank. However, in terms of lending, ICICI Bank is still the second largest Bank after SBI, whose market capital after closing the Wednesday Market was Rs 66,321.16-crore.