HDFC Bank overtakes SBI as India's most valued bank

PTI | Jul 27, 2012, 05.18PM IST




Private sector lender HDFC Bank surpassed SBI as the country's most valued bank on Friday with a total market valuation of about Rs 1,37,500 crore.


SBI shares were seen trading under pressure with a fall of nearly 2 per cent this afternoon, despite an overall uptrend in the market, while HDFC Bank shares gained by more than 3 per cent.


The market benchmark sensex was trading more than 200 points higher on broad-based buying among blue chips.
As a result, HDFC Bank's market capitalization rose to Rs 1,37,500 crore, as against SBI's 1,32,700 crore, as per the BSE data.


At close yesterday, SBI was the country's most valued bank with a total market cap of Rs 135,360 crore, followed by HDFC Bank (Rs 133,375 crore), ICICI Bank (Rs 1,04,558 crore), Axis Bank (Rs 41,657 crore) and Kotak Mahindra Bank (Rs 40,178 crore).


At 1415 hrs today, HDFC Bank shares were trading 3.1 per cent higher at Rs 584 after scaling an intra-day high of Rs 588.


On the other hand, SBI was down nearly 2 per cent at Rs 1,977.40 at the BSE, while ICICI Bank was up 2.5 per cent, Axis Bank was up 2.1 per cent and Kotak Mahindra was trading 1.6 per cent down.


In terms of market cap, HDFC Bank and SBI were followed by ICICI Bank (Rs 1,07,221 crore), Axis Bank (Rs 42,541 crore) and Kotak Mahindra Bank (Rs 39,547 crore) at 1420 hours.