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Tata Dethroned: HDFC Group Becomes India’s Most Valued Conglomerate
Aditya Puri (RIght), Managing Director, HDFC Bank. (Bhaskar Paul/India Today Group/Getty Images)
HDFC Group, an Indian financial group with interests in banking and insurance, has overtaken the steel-to-software group, Tata Sons, as India’s most valued conglomerate, reports Financial Express (FE).
The market capitalisation (m-cap) of HDFC Group stood at Rs 10.40 lakh crore at the end of the trading session on Wednesday (26 December 2018). It was Rs 1,185 crore higher than that of Tata Sons.
Since the start of the year (2018), while the m-cap of HDFC Bank has increased by 21.8 per cent, Tata’s rose by 7.9 per cent during the same period. It was reported in July 2018 that the market cap of HDFC Group had crossed the Rs ten lakh crores mark and was second only to Tata’s.
While the HDFC Group has four listed entities - housing finance major HDFC Ltd, banking behemoth HDFC Bank, life insurance firm HDFC Standard Life and Gruh Finance, there are approximately 30 listed entities of Tata Sons.
HDFC Bank is also India’s most valuable brand, with its brand value pegged at $21.7 billion. However, Tata Consultancy Services (TCS) which came in at third, is India’s most valued standalone Indian company, ahead of Mukesh Ambani's Reliance Industries Limited (RIL).
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