Financial services conglomerate HDFC group has become the most valuable business house in the country.
Financial services conglomerate HDFC group has become the most valuable business house in the country, surpassing Tatas, with the cumulative market valuation of its five listed companies surging to Rs 10.40 lakh crore. While HDFC group has five listed firms – HDFC Ltd, HDFC Bank, HDFC Standard Life Insurance Company, Gruh Finance Ltd and HDFC Asset Management Company- Tatas have nearly 30 listed companies on the bourses. At close of trade Thursday, the combined market valuation of five HDFC group firms stood at Rs 10,40,689.89 crore on BSE.
HDFC Bank with a market capitalisation of Rs 5,72,754.19 crore is the country’s third most valuable firm after TCS (Rs 7,16,499.10 crore) and RIL (Rs 7,09,918.93 crore). HDFC has a market cap of Rs 3,34,684.54 crore, HDFC Standard Life Insurance Company Rs 78,824.31 crore, HDFC Asset Management Company Rs 31,540.03 crore and Gruh Finance Ltd Rs 22,886.82 crore.
As many as 22 Tata group firms have a combined market valuation of Rs 10,38,290.08 crore, as per data available on BSE Thursday.
HDFC group had on July 10 this year saw the market capitalisation of its listed firms cross Rs 10 lakh crore mark.
Shares of Gruh Finance Ltd went up by 1.45 per cent, HDFC Standard Life Insurance Company rose by 1.47 per cent, HDFC Asset Management Company gained 1.12 per cent and HDFC climbed 0.63 per cent, while HDFC Bank declined 0.67 per cent on BSE.
The flagship HDFC Ltd has been in business for the last four decades, HDFC Bank has been in business for 25 years and HDFC Standard Life for 20 years. Gruh Finance Ltd is also in business for 30 years.