HDFC Bank shares hitting record high takes group market cap past $200 billion

Shares of HDFC Bank Ltd., India's largest private lender, hit a record high on Thursday, April 17. While that has not only taken the Nifty Bank close to its all-time high levels, but also taken the market capitalisation of all listed HDFC Group companies past $200 billion.

HDFC Bank accounts for nearly 86% of the group's overall market capitalisation, and has gained 17% from the lows it made in January this year. The other major contributor to this surge is HDFC Life, shares of which have risen 20% from the January lows.

Currently, HDFC Bank commands a market capitalisation of $171 billion, followed by HDFC Life and HDFC Asset Management Company (HDFC AMC), who have a market capitalisation of $18.1 billion and $10.4 billion respectively.

The HDFC Group has taken five years to double its market capitalisation, having crossed the mark of $100 billion, back in 2020, thereby cementing its status as the third largest conglomerate in the country.

Tata is currently the country's most valuable conglomerate with a combined market capitalisation of $311 billion, followed by the Reliance Group of Mukesh Ambani at $224 billion.

The Bajaj Group and the Adani Group, are next in line, with market capitalisations of $160 billion and $150 billion respectively.

Courtesy of both HDFC Bank and ICICI Bank shares hitting record highs, the Nifty Bank index is now within 100 points of scaling its own peaks of December 2024.

HDFC Bank, which has been at the forefront of this surge, has a 14.4% weightage on the Nifty and a 39% weightage on the Nifty Bank, making it pivotal to moves in either direction on both the indices.