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HDFC Bank surpasses Reliance, becomes second most valuable company

At 12:18 am, HDFC Bank m-cap stood at Rs 363,788 crore , while of RIL at Rs 345,341 crore on BSE

HDFC Bank branch office in Mumbai
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HDFC Bank branch office in Mumbai

SI Reporter Mumbai
HDFC Bank, the private sector lender, replaced Reliance Industries (RIL) to become the second most valuable company in terms of market capitalization (m-cap) on BSE.

The stock of HDFC Bank surged to its record high of Rs 1,450, up 9% on BSE in early morning trade after  the Reserve Bank of India (RBI) removed restrictions placed on purchase of bank shares by foreign portfolio investors.

At 12.18 pm, shares of the HDFC Bank were quoting 7% higher at Rs 1,423 on BSE with m-cap of Rs 363,788 crore was at second positions in overall ranking. At the same

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