Millennium Post

HDFC group mcap crosses 10 trillion, only 2nd after Tatas

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NEW DELHI: Deepak Parekhled financial services conglomera­te HDFC group on Tuesday saw the market capitalisa­tion of its listed firms cross Rs 10 lakh crore mark, making it only the second Indian business house after Tatas to achieve this feat.

HDFC group currently has four listed entities -- housing finance major HDFC Ltd, banking behemoth HDFC Bank, life insurance firm HDFC Standard Life and Gruh Finance -- while Tatas have nearly 30 firms listed on the stock exchange.

Another HDFC entity -- its mutual fund arm -- is currently in the process of launching an IPO, after which the group will have five listed firms and analysts have pegged its market capital at around Rs 30,000 crore.

At close of trade on Tuesday, the market valuation of HDFC Bank stood at Rs 5,59,633.53 crore, of HDFC Ltd was Rs 3,26,776.81 crore, HDFC Standard Life Insurance Company Rs 95,936.72 crore and Gruh Finance Rs 24,967.71 crore on the BSE.

Tata group firms have a combined market valuation of nearly Rs 11 lakh crore. Tata Consultanc­y Services (TCS) is the country's most valued firm with a market valuation of Rs 7,18,623.56 crore.

HDFC group's HDFC Bank is the country's third most valued firm in terms of market capitalisa­tion (m-cap).

Shares of HDFC Bank rose by 1.31 per cent to close at Rs 2,149, HDFC 1.54 per cent to Rs 1,939.20, HDFC Standard Life 0.51 per cent to Rs 476.70 while Gruh Finance fell by 0.96 per cent to Rs 341.35 on the BSE. HDFC is one of the few blue-chip companies in the country which is not run by a promoter family and is profession­ally-managed with a diverse institutio­nal shareholdi­ng.

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