HDFC BANK MCAP CROSSES 5 LAKH CRORE

HDFC Bank’s market value crossed the ` 5 lakh crore mark after the stock hit a new high of

` 1,931 on January 18. After replacing ICICI Bank as India’s largest private sector lender in terms of standalone assets, HDFC Bank has become the third company after Reliance Industries and Tata Consultancy Services to achieve this milestone. The rally in bank stocks was triggered by the government's decision to trim additional market borrowing from ` 50,000 crore to

` 20,000 crore.