HDFC (Housing Development Finance Corporation), which is led by Deepak Parekh has crossed the milestone of market capitalization amounting to Rs 10 trillion. This has marked the company as the second Indian business house after the Tata group to achieve this milestone.
This news comes a few days after Deepak Parekh announced his views regarding the succession plan. The company at present has four listed ventures, that are Housing Finance Development Corp. Ltd, HDFC Bank Ltd, life insurance firm HDFC Standard Life Ltd and Gruh Finance Ltd. Whereas, the Tata Group has moreover 30 firms listed on the stock exchange.
At the close of trade, the HDFC’s market valuation was at Rs 5,59,633.53 crore, HDFC Ltd was Rs 3,26,776.81 crore, HDFC Standard Life Insurance Company at Rs 95,936.72 crore and Gruh Finance Rs 24,967.71 crore on the BSE.
Whereas, Tata group ventures have a combined capital valuation of around Rs 11 lakh crore. Tata Consultancy Services NSE 5.59 % (TCS) is the country’s most valued firm with a market valuation of Rs 7,18,623.56 crore.
Talking about the equity volume, 1.44 lakh shares of the company were traded on the BSE and over 27 lakh shares on the NSE for the day. Shares of HDFC have gained nearly 5 percent as of now this year.
HDFC Ltd has been in operation for the last 40 years, HDFC Bank has been in business for 25 years and HDFC Standard Life for 20 years. Gruh Finance has been in business for 30 years.
At present, HDFC Ltd has 76% FII holding, which has remained in this range for many years. The FII holding rose to as much as 80% in March 2015.