HDFC Bank market cap crosses INR 5 lakh crore

The market capitalisation of HDFC Bank topped INR 5 lakh crore today for the first time after Reliance Industries and Tata Consultancy Services.

HDFC Bank stock was higher by 3% at Rs.1941.

The stock has hit a high of Rs.1953 and a low of Rs.1918.

HDFC Bank will announce the unaudited financial results for the third quarter ending 31st December, 2017 on Friday, January 19, 2017.

HDFC Bank provides a number of products and services including wholesale banking, retail banking, treasury, auto loans, two wheeler loans, personal loans, loans against property and credit cards.

In 1994 HDFC Bank was incorporated, with its registered office in Mumbai, India. Its first corporate office and a full service branch at Sandoz House, Worli were inaugurated by the then Union Finance Minister, Manmohan Singh.

As of June 30, 2017, the bank’s distribution network was at 4,715 branches and 12,260 ATMs across 2,657 cities and towns. The bank also installed 4.30 Lacs POS terminals and issued 235.7 Lacs debit cards and 85.4 Lacs credit card in FY 2017.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.