HDFC Bank Market Cap Surges Past ₹14 Lakh Crore; Stock Hits All-Time High

The market capitalisation of HDFC Bank crossed ₹14 lakh for the first time today. The stock rose to an all-time-high of ₹1,836.05 apiece. Following this, HDFC Bank has become the third most valued company on the exchanges followed by Tata Consultancy Services (TCS) and Reliance Industries (RIL) who have market capitalisation of ₹15.60 lakh crore and ₹17.50 lakh crore respectively. Currently, the stock is trading 0.32% lower at ₹1806.45.

The surge in market capitalisation can be attributed to MSCI rebalancing, which came into effect on November 25. Indian markets are set to get $2.5 billion via rebalancing, of which HDFC Bank is expected to get the lion's share, analysts said.

Nuvama Alternative Research said that HDFC Bank’s weight in the MSCI Emerging Markets (EM) Index is set to rise. The lender is expected to get foreign institutional investor (FII) inflows worth $1.9 billion.

During Q2FY25, HDFC bank reported a net profit of ₹16,821 crore, up 5.3% from corresponding period last year. While the net interest income (NII) rose by 10% to ₹30,110 crore, net interest margin (NIM) stood at 3.46% on total assets and 3.65% on interest-earning assets during the September quarter.

During the course of 1 month the stock has risen by 4.8%, while over a year’s time the stock surged over 18%.