HDFC Bank Hits Record High, M-Cap Tops Rs 4 Lakh Crore

Stock of HDFC Bank, riding high on the continued optimism, owing to strong fourth-quarter earnings, hit a record high on Thursday, and its market capitalisation crossed Rs 4 lakh crore.

HDFC Bank is only the third firm after Reliance Industries and Tata Consultancy Services to have crossed this mark, and the bank has been significantly contributing to the recent market rally.

According to a leading analyst, who spoke to a business news portal, growth has surprised all, even after strong growth over the last few years, and HDFC Bank has been a consistent performer, with the potential to give 15% CAGR return in the future as well.

On Thursday, shares of HDFC Bank ended up 1.28% at Rs 1,567.25, after hitting a high of 
Rs 1,572.30. At close, its market cap stood at Rs 4.02 lakh crore.

Whereas, the stock on Friday opened at Rs 1565, lower by Rs 16 or 1% on the BSE.

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About Suhani Varma