India has joined Switzerland and the United Kingdom in the number of companies with over $150 billion market capitalisation.
While the US tops the list with 51 companies, with market valuations of a minimum of $150 billion, China and France follow next with six and four companies, respectively.
In India, the merger of HDFC twins has created a third Indian company to have a market capitalisation of at least $150 billion. This feat till now was enjoyed by two companies — Reliance Industries Ltd (RIL) and Tata Consultancy Services (TCS). Now, three nations — India, Switzerland, and the UK — each have three companies with a market capitalisation of greater than $150 billion, according to Bloomberg data.
On July 17, the bank’s market capitalisation crossed $150 billion, making it bigger than Morgan Stanley, Goldman Sachs and Bank of China. Days after its merger with HDFC Ltd, HDFC Bank on Monday joined the exclusive club of companies with a market capitalisation of $100 billion. This makes it the seventh-largest lender globally.
Currently, JP Morgan is the largest bank, with a market cap of $438 million. It is followed by Bank of America ($232 billion) and China’s ICBC ($224 billion).
