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Last Updated : Dec 12, 2019 03:51 PM IST | Source: Moneycontrol.com

HDFC becomes the 5th firm to cross Rs 4 lakh crore in market cap

With this, now two companies from HDFC Group have entered into the top list of high market cap.

 
 
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Housing Development Finance Corporation (HDFC) became the fifth company to cross Rs 4 lakh crore in market capitalisation on December 12, 2019.

Oil-retail-to-telecom major Reliance Industries retained its top slot with a market cap of Rs 9.93 lakh crore followed by top Indian IT company TCS (Rs 7.8 lakh crore), second largest private sector lender HDFC Bank (Rs 6.9 lakh crore) and FMCG major Hindustan Unilever (Rs 4.3 lakh crore).

With this, now two companies from HDFC Group have entered into the top list of high market cap.

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Currently, four companies are listed from this group including HDFC AMC and HDFC Life Insurance, and their combined market cap stood at Rs 12.75 lakh crore which experts feel likely to cross Rs 13 lakh crore soon. Their market cap was Rs 11.66 lakh crore in May this year.

According to media reports, non-banking financial company HDB Financial Services, the subsidiary of HDFC Bank, is likely to launch its initial public offer by end of this financial year 2019-20.

If the IPO goes through, then HDB Financial would be the fifth listed company from the HDFC Group.

HDFC Bank held 95.53 percent stake in HDB Financial Services as of March 2019 and the rest is held by individual shareholders.

HDFC share price has gained 22 percent in last nine months. It was quoting at Rs 2,325, up 0.35 percent, with a market cap of Rs 4,01,812.72 on the BSE at 1458 hours IST.

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First Published on Dec 12, 2019 03:42 pm
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