HDFC Bank crosses USD 100 billion M-Cap
India’s largest by assets-private sector lender, HDFC Bank Limited becomes the third Indian Company to cross the USD 100 billion market capitalization (M-Cap).
With this, HDFC Bank Ltd has become the 110th most valued firm in the world and joins the league of other two Indian Companies- Reliance Industries Limited (RIL) and the Tata Consultancy Services(TCS) Limited to have crossed the USD 100 billion market capitalization mark.
Tata Consultancy Services Limited(TCS) is currently having a market value of USD 114.60 billion while Reliance Industries Ltd has a market capitalization of USD 140.74 billion at present.
The Mumbai headquartered HDFC Bank Ltd became the largest bank in India in terms of market capitalization in February 2016 and is currently the 26th most valuable banking and financial service company in the world to have a market value of above USD 100 billion.
Market Cap or Market Capitalization is the value of a company’s outstanding shares in terms of the dollar market and is calculated by multiplying the outstanding shares of the company by the market price of one share at that particular time.
Category: Economy & Banking Current Affairs
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