Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank

  • IANS
  • Stock Market News
Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank
Credit: © Reuters.

New Delhi, July 13 (IANS) Eighteen of India's 20 largest banks saw increases in market capitalization in the second quarter, boosted by a stock rally amid the banking sector's strong recovery, according to S&P Global (NYSE: SPGI ) Market Intelligence data and analysis.Nine banks reported double-digit percentage gains in market capitalization, led by IDFC First Bank Ltd. with a 44.53% climb to $6.41 billion. The lender rose to No. 11 from No. 14 in the ranking.

IDBI Bank Ltd (NS: IDBI ). climbed three spots to No. 8 after a 23 per cent expansion to $7.25 billion, according to S&P Global Market Intelligence data and analysis.

Large Indian banks retained their top slots in the second quarter. HDFC Bank Ltd . (NS: HDBK ) maintained the top spot with a market capitalization of $115.93 billion after its merger with Housing Development Finance Corp. (NS: HDFC ) Ltd. on July 1.

ICICI Bank Ltd . (NS: ICBK ) and State Bank of India (NS: SBI ) kept second and third place, respectively, while Kotak Mahindra Bank Ltd. (NS: KTKM ) and Axis Bank (NS: AXBK ) Ltd. ranked fourth and fifth.

IndusInd Bank Ltd. (NS: INBK ) and Bank of Baroda (NS: BOB ) Ltd. switched spots at No. 6 and No. 7, S&P Global Market Intelligence data shows.

Central Bank of India (NS: CBI ) dropped to 20th even after a 20.54 per cent market cap expansion. Indian Overseas Bank (NS: IOBK ) fell to 14th from 8th and Canara Bank (NS: CNBK ) dropped to 10th.

UCO Bank (NS: UCBK ) made the list at No. 17 after its market cap increased 12.76 per cent.

Just two lenders -- Bank of India (NS: BOI ) Ltd. and The Federal Bank Ltd. (NS: FED ) -- posted market cap declines.

--IANS

san/dpb

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  • Manju Jalde @Manju Jalde
    idfc king of multibagger future kotak bank
    Like 0
  • ravibabu avvari @ravibabu avvari
    will it be affected tomorrow market?
    Like 1
    • xtemp abc @xtemp abc
      No
      Like 0
    • xtemp abc @xtemp abc
      These are just market capitalization figures not the profitability or quarterly results.
      Like 0
    • Suman Banerjee @Suman Banerjee
      no
      Like 0

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