HDFC Ltd on the list of top 10 companies by market capitalization: 5 points

HDFC Ltd on the list of the top 10 companies based on market capitalization: 5 points

Housing finance company HDFC Ltd has been knocked out of the country’s 10 most valuable companies by market capitalization following a significant drop in its share price.

Here is your 5-point guide

  1. Shares in housing finance company HDFC Ltd. fell 7.19% in the trading week ending April 22, following a broader decline in Indian stocks, with eight of the bottom 10 largest companies based on market capitalization losing Rs 2.21 Lakh Crore in valuation.

  2. On April 4, HDFC announced that it would merge its operations with HDFC Bank. Once the deal becomes effective, HDFC Bank will be fully owned by public shareholders, and existing HDFC shareholders will own 41% of the bank.

  3. Shares of HDFC have fallen nearly 18% since the merger announcement.

  4. The market capitalization (mcap) of HDFC Bank also fell from Rs 60,536.97 crore to Rs 7,51,801.60 crore during the last trading week.

  5. The ranking of the top 10 companies after the end of the last week of trading: Reliance Industries topped the rankings, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, Adani Green Energy, State Bank of India, Bajaj Finance and Bharti Airtel.