HDFC pips SBI to become most valued lender

HDFC Bank today surpassed State Bank of India (SBI) to become the country's most valued lender with a market capitalisation of Rs 1.1 lakh crore.

With a 0.23% gain in its share price, HDFC Bank attained a market capitalisation (market cap) of Rs 1,10,288 crore, which was over Rs 400 crore than that of SBI, according to the data available with the BSE.

SBI's shares fell by 1.32% commanding a market cap of Rs 1,09,848 crore at close on the BSE.

Further, ICICI Bank became the country's third largest private sector with a market capitalisation of Rs 91,132 crore at the end of the trading session.

A company's market capitalisation is determined by multiplying its share price with total number of shares.

HDFC Bank scored the ninth spot in terms overall market cap, SBI Bank bagged the 10th position and ICICI Bank managed 13th place.

Overall, Reliance Industries is the country's most valued firm with a market cap of Rs 2,82,495.43 crore, followed by oil and gas major ONGC with a m-cap of Rs 2,21,415.82 crore.

At the third place is TCS with a m-cap of 2,19,783.77 crore, Coal India (Rs 2,00607.59 crore) stood at fourth spot and ITC (1,63,681.70 crore) was fifth.