HDFC Life joins Rs 1-trillion market cap league

HDFC Standard Life Insurance Company (HDFC Life) entered the elite club of Rs 1-trillion market capitalization (market-cap) on the BSE, as its share price hit a new high of Rs 508 on the BSE in early morning trade on Tuesday.

With the market-cap of Rs 1.01 trillion at 09:25 am; HDFC Life stood at number 29th position in overall market-cap ranking, the BSE data shows.

The stock of HDFC Group Company rallied 20% in last seven trading sessions as compared to a marginal 0.46% rise in the S&P BSE Sensex. HDFC Life trading at its highest level since listing on November 17, 2017, up 75% against issue price of Rs 290 per share. It surpassed its previous high of Rs 493.75 recorded on January 1, 2018 in intra-day deal

The banking giant HDFC Bank (Rs 4.97-trillion market-cap) and mortgage lender HDFC (Rs 3.08 trillion market-cap), the other two HDFC Group companies, are in the list of Rs 1-trillion market-cap.

HDFC Life has gained 16 positions since its listing in November last year. It surpassed Bajaj Auto, Mahindra & Mahindra (M&M), Eicher Motors, Hero MotoCorp, Bajaj Finserv, Adani Ports and Special Economic Zone, Grasim Industries, YES Bank, Bharti Infratel and GAIL (India), which are on the Nifty50 index.