Following the merger of HDFC and HDFC Bank on July 24 last year, HDFC Bank s market-cap was 82% higher than ICICI Bank. ICICI Bank was valued at ₹6.94 lakh crore then while HDFC Bank s market- cap stood at ₹12.66 lakh crore. On Monday, this gap was reduced to 41%, with HDFC valued at ₹11.49 lakh crore and ICICI Bank at ₹8.14 lakh crore.
In the past week, at $21.5 billion, group chairman Kumar Mangalam Birla surpassed Radhakishan Damani ($20.5 billion), Cyrus Poonawalla ($20.4 billion), and KP Singh ($20.1 billion) in terms of net worth to become the sixth wealthiest individual in India, showed the Forbes Real Time Billionaires List.
With a sharp rally in the Reliance stock, the net worth of Mukesh Ambani, the chairman of Reliance Industries, jumped $6.7 billion on Monday to $111.1 billion, according to the Forbes Real-Time Billionaire list.