HDFC m-cap unseats TCS, end of day TCS regains slot
HDFC Bank, which was recently recognized as a D-SIB or domestic systemically important bank, for a brief period on September 12, managed to unseat IT bellwether Tata Consultancy Services (TCS) as the country's second most valued firm in terms of market capitalization. However, this position was regained by TCS at the close of trade. Here's more about it.
What exactly happened
During the day the market capitalization (m-cap) of HDFC Bank reached Rs. 4,73,530.72 crore after an all time high of Rs. 1,839.90 apiece, which made it cross the TCS m-cap of Rs. 4,72,733.32 crore. This was, however, corrected at the end of the trading day with Tata Consultancy Services' (TCS) market valuation reaching at Rs. 4,76,045.04 crore while HDFC Bank's stood at Rs. 4,73,466.18 crore.
Keeping a tab
HDFC closed at Rs. 1,837.10 gaining 0.75%, whereas, TCS closed at Rs. 2,497.00 gaining 1.73%. Currently, in terms of market capitalization, Reliance Industries Ltd is India's most valued company with an m-cap of Rs. 5,35,509.87 crore. TCS, HDFC Bank, and ITC follow. The top gainers today were Tata Steel, Tata Motors DVR, GAIL and BPCL and the top losers were ONGC, Wipro, and IndusInd Bank.
