ICICI Bank: $100 billion m-cap ICICI Bank 6th Indian company to join the league

Mumbai: ICICI Bank on Tuesday became the sixth Indian company to achieve a market capitalisation of $100 billion after the stock rose by 2.48% to close at a record high of ₹1,199.05. The private lender is the second-largest bank in India by market capitalisation, after HDFC Bank. It is also the fifth-largest entity by market value.

In December 2020, ICICI Bank’s market capitalisation crossed $50 billion, and within 10 months, it exceeded $75 billion in October 2021.

Shares of ICICI Bank have rallied 20% so far this year compared to a 9% gain each in the Nifty and Bank Nifty during this period.

The other five companies that have reached the $100 billion market capitalisation milestone are Reliance Industries, Tata Consultancy Services, HDFC Bank, Bharti Airtel, and Infosys. Notably, Infosys reached this milestone in January 2022 but could not maintain that level for long.

Currently, Reliance Industries is leading the list with a market capitalisation of $236 billion, followed by TCS with a market value of $166 billion.