Neither Infosys nor HDFC, this FMCG company is now India’s 3rd most-valued firm

FMCG major ITC scaled up and became the third most valued firm after its shares surged 10 per cent on the Bombay Stock Exchange ( BSE).

ITC left Infosys and HDFC Bank behind. ITC's market capitalisation stood at Rs 2,61,403.46 crore, higher than HDFC Bank (Rs 2,48,946.98 crore) and Infosys (Rs 2,58,291.43 crore).

"Every single Budget, people usually have two trades i.e. they go short on ITC and long on HDFC Bank and, typically, post Budget the trades reverse. I do not think there was anything different this year,” Manish Chokhani, Director, Enam Holdings, told ET.

Reportedly, the combined market capitalisation of five most-valued BSE-listed companies stood at Rs 15,35,128 crore.

(Image: Reuters)