HDFC Bank’s m-cap surpasses Rs 14 lakh crore for the first time

HDFC Bank's market capitalization reached Rs 14 lakh crore for the first time on Thursday after the stock of India's largest private lender hit a fresh record high of Rs 1,836.05 on the BSE.

The market cap peaked at Rs 14,00,710 crore but later slipped below this level amid profit-taking in the broader markets.

At 11:17 am, HDFC Bank shares were trading at Rs 1,808.40, down 0.14%. Earlier in the day, the stock gained 1.4%, reaching a record high of Rs 1,836.05.

HDFC Bank is India's third most valuable listed company, following Reliance Industries (RIL), with a market cap of Rs 17.38 lakh crore, and Tata Consultancy Services(TCS), with a market cap of Rs 15.46 lakh crore.

The market value gap between HDFC Bank and TCS stands at just 10.4%, while it trails RIL by 24.1%, based on current market valuations.

In Q2 FY25, HDFC Bank reported a 5.3% year-on-year (YoY) increase in standalone profit after tax, reaching Rs 16,821 crore. During the quarter, the bank's net interest income (NII) rose 10% YoY to Rs 30,113 crore.

The lender's total deposits grew 15.1% YoY in the September quarter, reaching Rs 25,00,100 crore, while gross advances increased by 7% YoY to Rs 25,19,000 crore.

As of September-end, HDFC Bank's gross NPA rose to 1.36% of gross advances, compared to 1.33% in Q1 FY25 and 1.34% in Q2 FY24.