HDFC group topples Tatas to become most valuable business house in country; retains top spot among brands
HDFC earned top spot, having built a reputation for its sustainable livelihood initiative, by introducing smaller loans worth as little as $175 that can be accessed through its bank branches,
New Delhi: 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. HDFC has retained its top spot in the BrandZ India Top 50 for the fifth year in a row, growing its brand value by 21 percent to $21.7 billion in 2018.
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.
The lender earned top spot, having built a reputation for its sustainable livelihood initiative by introducing smaller loans worth as little as $175 that can be accessed through its bank branches, WPP and Kantar Millward Brown's BrandZ Most Valuable Indian Brands report said.
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 10 July 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 percent, HDFC Standard Life Insurance Company rose by 1.47 percent, HDFC Asset Management Company gained 1.12 percent and HDFC climbed 0.63 percent, while HDFC Bank declined 0.67 percent 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.
Market Roundup : Sensex falls by 1,170 points, Nifty ends at 17,416; check top winners and losers here
The top gainers at BSE were Bharti Airtel, Asian Paints and Power Grid and the top losers were Bajaj Finance, Bajaj Financial Services, Reliance, NTPC and Titan.
Under sectoral indices, auto registered losses while metal, realty, media and IT were in green
Market Roundup : Sensex falls by 323 points, Nifty ends at 17,415; check top winners and losers here
The top BSE gainers were Kotak Bank, NTPC, ICICI Bank, Bajaj Finance and Power Grid. The top losers were Maruti, Infosys, ITC, Reliance and L&T