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This company just dethroned HDFC to become 3rd most valued company

BI India BureauFeb 2, 2017, 14:37 IST

Shares of ITC rose by 4 % and this help the company to become the third most valued company based on BSE leaving behind HDFC Bank.

The stock rose 3.78 % intraday to a high of Rs 279.90 and this helped the company in hitting a market capitalisation of Rs 3.4 lakh crore, which landed the company on the third spot on the m-cap ladder. HDFC Bank (Rs 3.30 lakh crore) was trading with a negative bias at that point.

However, the trend reversed soon after and at Rs 3,30,679.14 crore, the market value of ITC just before noon was less than HDFC Bank's Rs 3,31,425.55 crore m-cap.

ITC has risen 13.24 per cent in the past one month compared with HDFC Bank's 8.24 per cent rise.