HDFC Bank Soars Past Rs 15 Lakh Crore Mark Amid Strong Market Gains

HDFC Bank's shares surged nearly 2%, lifting its market valuation beyond Rs 15 lakh crore, making it the third Indian company to achieve this milestone. The rise in stock price significantly contributed to upward movements in the equity markets while reporting soaring profits despite competitive pricing challenges.

HDFC Bank shares witnessed a nearly 2% rise on Tuesday, propelling its market valuation past the Rs 15 lakh crore mark. This ascent places HDFC Bank as the third company in India to reach such a milestone.

The stock closed at Rs 1,961.90 on the BSE after peaking at Rs 1,970.65, setting a new record high. Meanwhile, at the NSE, the shares rallied to Rs 1,960.

The stock has surged by 11.12% since April 9, adding Rs 1,50,289.64 crore to its market valuation, now standing at Rs 15,01,289.37 crore. HDFC Bank remains behind only Reliance Industries and Tata Consultancy Services in terms of market capitalization.

(With inputs from agencies.)