HDFC Bank hits fresh lifetime high, crosses $100 billion in market cap

The share price of HDFC Bank Ltd hit a fresh all-time high of Rs 1,305.50 during Thursday's trading session to cross $100 billion market capitalisation.

With this, the lender has become India's third listed entity to enter a list of companies with market cap of $100 billion (Rs 7 lakh crore) and above. The other two companies that have achieved the $100 billion m-cap milestone are Reliance Industries Limited (RIL), that has a market cap of $140.74 billion (Rs 10 lakh crores) and Tata Consultancy Services (TCS) with $114.60 billion market cap (Rs 8 lakh crores).

HDFC Bank shares rose nearly 1% today and hit a fresh 52-week and all-time high of Rs Rs 1,305.50 on NSE, against the last closing price of Rs 1,292.35. On BSE, the stock claimed new high of Rs 1,304. The share price of HDFC Bank trades higher than its 5, 20, 50, 100 and 200-day moving averages.

HDFC Bank stock has risen 2.82% in one week, 2% in one month and 22% year-to-date.

The shares of the private lender have remained on spotlight as the most valued bank in the country in terms of market valuation, consistent earnings performance, steady 20% profit growth, stable asset quality and healthy advances growth.

According to the Bloomberg data, most analysts remain bullish on the stock, with 50 analysts suggesting a 'buy' rating, 5 passing a 'hold' rating, while one giving it a 'sell' rating.

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