HDFC Bank mcap tops ₹15 lakh crore-mark; third domestic firm to achieve feat

Shares of HDFC Bank climbed nearly 2% on Tuesday, taking its market valuation to above the ₹15 lakh crore-mark, becoming the third firm in the country to achieve this milestone.

The stock went up 1.78% to settle at ₹1,961.90 on the BSE. During the day, it jumped 2.23% to ₹1,970.65 -- the record high level.

At the NSE, the stock rallied 1.70% to ₹1,960.

Since April 9, the stock jumped 11.12%, adding ₹1,50,289.64 crore to its market valuation, which stands at ₹15,01,289.37 crore.

So far, only Reliance Industries and Tata Consultancy Services have attained a market capitalisation (mcap) of ₹15 lakh crore.

Reliance Industries commands a market valuation of ₹17,46,961.68 crore, while Tata Consultancy Services has a market cap of ₹12,00,499.53 crore.

Buying in HDFC Bank was instrumental in driving the equity markets higher.

The 30-share BSE Sensex climbed 187.09 points, or 0.24%, to settle at 79,595.59. The NSE Nifty rose 41.7 points, or 0.17%, to 24,167.25.

HDFC Bank on Saturday reported a 7% growth in consolidated net profit for the March quarter to ₹18,835 crore, but flagged issues around pricing in home and corporate loan segments, which are impacting its loan growth.

On a standalone basis, the country's largest private sector lender reported a net profit of ₹17,616 crore for the quarter as against ₹16,512 crore in the year-ago period.