- By Vaamanaa Sethi
- Tue, 05 Sep 2023 01:29 PM (IST)
- Source:JND
IDFC First bank has entered the elite list of top 10 most valuable listed lenders in India, by replacing Union Bank of India and Canara Bank with a valuation of Rs 65,325 crore as of September 4.
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Union Bank of India has a market capitalization (MCap) of Rs 65,251 crore, while Canara Bank is worth Rs 61,081.77 crore, according to BSE data.
Here are top 10 most valuable listed lenders in India —
| Bank | Market Cap (in Rs crores) |
| HDFC Bank | 11,99,795.78 |
| ICICI Bank | 6,76,886.10 |
| State Bank of India | 5,13,656.03 |
| Kotak Mahindra Bank | 3,50,268.38 |
| Axis Bank | 3,02,575.32 |
| IndusInd Bank | 1,10,361.06 |
| Bank of Baroda | 1,01,022.56 |
| Punjab National Bank | 74,247.28 |
| IDBI Bank | 69,847.60 |
| IDFC First Bank | 65,325.13 |
HDFC Bank stands at the forefront in India's banking sector, reigning as the most profitable institution with a staggering market capitalization of Rs 12 lakh crore. Following closely behind, ICICI Bank holds the second position with a market cap of Rs 6.77 lakh crore, while the state-run State Bank of India secures the third spot with a market capitalization of Rs 5.14 lakh crore. Kotak Mahindra Bank occupies the fourth place on the list, with Axis Bank, IndusInd Bank, Bank of Baroda, IDBI Bank, and Punjab National Bank trailing behind in that order.
Shares of IDFC Bank scaled to a new record high of Rs 98.99 each, keeping up the rally for the fourth straight trading session on September 4. However, the stock broke the four-day streak by trading 0.51% lower at Rs 97.95 per piece on NSE, on September 5, at 1:25 pm IST.
The stock on September 4 jumped over 5% after Rajiv Jain of GQG bought 17.1 crore shares or 2.58 percent stake in the lender for about Rs 1,527 crore.
