Bharti Airtel Surpasses HDFC Bank to Claim Second Position in India's Market Valuation
Bharti Airtel Becomes Second Most Valued Indian Company
On May 18, Bharti Airtel surpassed HDFC Bank to become the second most valued Indian company in terms of market capitalisation. The telecommunications giant's shares rose up to 2% on the same day, trading at Rs 1,953.8 apiece. This increase brought the company's market capitalisation to nearly Rs 12 lakh crore.
In contrast, HDFC Bank's market capitalisation was at Rs 11.8 lakh crore on the same day. The private lender's market capitalisation has been impacted by recent developments, including the resignation of its part-time chairman, Atanu Chakraborty. As a result, HDFC Bank shares have dropped 22 per cent in the past six months.
Notably, Bharti Airtel shares have experienced significant growth over the past week, rising by 10%. HDFC Bank shares, on the other hand, have only gained 1% during the same period.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
The market capitalisation of Reliance Industries remains the highest in India, standing at Rs 18.04 lakh crore.
| Company | Market Capitalisation (Rs lakh crore) |
|---|---|
| Reliance Industries | 18.04 |
| Bharti Airtel | 12 |
| HDFC Bank | 11.8 |
Investor Takeaway
Bharti Airtel's market valuation has surpassed HDFC Bank's, making it the second most valued Indian company.
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