The country’s stock markets continue to hold their own despite sobering economic news in recent months; India's largest private sector bank HDFC Bank on Friday (15 November) surpassed Rs 7 lakh crore (Rs 7 trillion) in market capitalisation for the first time.
HDFC Bank is only the third Indian company after TCS and Reliance Industries to become part of this exclusive club.
The private lender on Friday touched Rs 7,00,252.30 crore market capitalisation, a metric used to evaluate the size of a company.
Currently Reliance Industries with a market cap of Rs 9,39,463.36 crore, is the country's largest company followed by Tata Consultancy Services at Rs 8,25,168.16 crore.
At 11.25 am, HDFC Bank was trading at Rs 1,278.90 a share, up by 0.41 per cent.
(With inputs from IANS)
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 999/year is the best way you can support our efforts.