HDFC Bank overtakes TCS to become second most valued firm

Shares of HDFC Bank have surged nearly 53% so far this year.

HDFC Bank on Tuesday surpassed Tata Consultancy Services (TCS) to become the country’s second most valued firm in terms of market valuation.

The headquarters of India's HDFC bank is pictured in Mumbai, India, December 4, 2015. (Reuters File Photo)

During the afternoon trade, the market capitalisation (m-cap) of HDFC Bank stood at Rs 4,73,530.72 crore, which was Rs 797.4 crore more than TCS’ Rs 4,72,733.32 crore valuation.

Shares of HDFC Bank gained 0.93% to Rs 1,840 -- its 52-week high -- on BSE.

The scrip of TCS rose by 0.36% to Rs 2,472.65.

Shares of HDFC Bank have surged nearly 53% so far this year, while that of TCS rose by nearly 5%.

Reliance Industries Ltd is the country’s most valued firm with a market cap of Rs 5,33,818.72 crore followed by HDFC Bank, TCS, ITC (Rs 3,35,993.75 crore) and HDFC Ltd (Rs 2,84,580.02 crore) in top five list.