Big feather in market cap of HDFC Bank! Lender becomes 3rd Indian firm to cross Rs 7 trillion mark - Know other two conglomerates
Achieving a grand feat, India's largest private sector bank HDFC Bank on Friday surpassed the Rs 7 trillion in market capitalisation for the first time.
Achieving a grand feat, India's largest private sector bank HDFC Bank on Friday surpassed the Rs 7 trillion in market capitalisation for the first time. The private lender on Friday touched Rs 7,00,252.30 crore market capitalisation, a metric used to evaluate the size of a company, as per an IANS report.
HDFC Bank is only the third Indian company after TCS and Reliance Industries to reach this milestone.
Currently, Reliance Industries, with a market cap of Rs 9,39,463.36 crore, is the country's largest company followed by Tata Consultancy Services at Rs 8,25,168.16 crore.
At 11.25 a.m., HDFC Bank was trading at Rs 1,278.90 a share, up by 0.41 per cent.
Earlier, it was reported that HDFC Life has created InstA, an industry-first virtual assistant for frontline users. It is a knowledge platform designed to empower employees and partners by enabling them to offer real-time sales and service support to customers.
InstA is powered by Natural Language Processing (NLP) and can answer questions according to the user's preference and demand. It is backed by AI capability. It learns and continuously improves its accuracy based on user queries and feedback.
Its integration with other applications - bots, analytics engine, and workflow enables it to provide quick and comprehensive responses to queries.
"InstA is a virtual assistant, for our sales and service teams. It is an AI-based Knowledge Platform which creates zero distance between the frontend and the backend teams," said Parvez Mulla, Chief Operating Officer, HDFC Life.