HDFC Bank overtakes ICICI as most valued pvt sector bank

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Mumbai, October 10: : Battered under an onslaught of rumours continuing for several weeks, ICICI Bank on Friday lost out its place as the country's most valued private sector bank to HDFC Bank, as its share price fell by about 20 per cent.

Market capitalisation of ICICI Bank, the top private sector lender in terms of asset size, today fell to Rs 40,512 crore, as against Rs 44,461.22 crore of rival HDFC Bank.

Shares of ICICI Bank today settled 19.71 per cent down at Rs 364.10, after a partial recovery from an intra-day fall of close to 28 per cent to its three-year low of Rs 326.70.

In comparison, HDFC Bank shares fell by 5.65 per cent to close at Rs 1046.25, after recovering from its intra-day low of Rs 975.55.

Till a few weeks ago, ICICI Bank used to be the most valued bank in the country across both private and public sector entities. However, last month it lost this position to public sector giant SBI, which now carries a market value more than double that of ICICI Bank.

In the overall banking sector, ICICI Bank now ranks as the third most valued after SBI and HDFC Bank. Across the market, ICICI Bank today moved out of the top-20 club to 21st position, as against a place among the top-10 till a few weeks ago.