TIL Desk/Business/New Delhi/ Private sector lender HDFC Bank has joined the $100-billion market capitalisation (M-cap) club. Including the value of its American depository receipts (ADRs), the Mumbai-based lender’s market value currently is $101.6 billion.
Only Reliance Industries (M-cap $123 billion) and Tata Consultancy Services ($108 billion) have higher market value.
At fourth and fifth place are consumer goods companies Hindustan Unilever and ITC, with market cap of $55 billion and $53 billion, respectively. India now has three companies in the global top 100 list in terms of market value.
Reliance Industries (RIL) ranks 72, Tata Consultancy Services (TCS) is at 86 and HDFC Bank at 99. Both RIL and TCS first crossed $100 billion in market cap last year, but a correction in the markets and a fall in the rupee saw both slipping below the $100-billion mark in October.
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