The market valuation of ICICI Bank is fast inching closer to Rs 3 lakh crore mark helped by a 4 per cent jump in its stock price on Thursday. ICICI Bank stock rose 4.05 per cent to close at Rs 452.05 on the BSE. During the day, it advanced 5.52 per cent to Rs 458.45 — its 52-week high. At the NSE, it gained 4 per cent to close at Rs 451.70. With this, the market capitalisation (m-cap) of the company rose to Rs 2,92,005.53 crore on the BSE. ICICI Bank is just Rs 7,994.47 crore away from the Rs 3 lakh crore m-cap mark.
ICICI Bank is currently placed at ninth rank in the top-10 domestic m-cap chart of most valued firms. If the company enters the Rs 3 lakh crore m-cap club, it will join the likes of HDFC, Infosys, Kotak Mahindra Bank and ITC. These companies have their market valuation in the range of Rs 3 lakh crore. Reliance Industries is the most valued firm with a market valuation of Rs 8,21,930.72 crore followed by Tata Consultancy Services Rs 7,83,366.59 crore, HDFC Bank Rs 6,79,660.35 crore and HUL Rs 4,40,279.48 crore. Stock of ICICI Bank has gained over 25 per cent so far this year.