Kotak Mahindra Bank ousts Adani Green Energy from top 10 most valuable companies
1 min read 17 May 2022, 09:48 AM ISTAfter Kotak Mahindra Bank entering the big boys club, the private lender has become 4th Indian bank to enter the elite club. Other three banks are HDFC Bank, ICICI Bank and SBI
PremiumAmid Indian stock market reeling under the heavy sell-off in recent sessions, Adani Green Energy's market cap has further went southward. Now, the Adani group company is no more in the list of most valuable top 10 Indian companies. As per the latest BSE data, Adani Green Energy ended on Monday with a market cap of ₹3,56,986 crore, figuring at 11th spot in the list of India's most valuable companies by market cap. Kotak Mahindra Bank ended last session with a market cap of ₹3,59,670, figuring at 10th spot in the list of most valuable Indian companies, ousting Adani Green Energy from the big boys club.
Post-outbreak of Russia-Ukraine war, Adani Green Energy witnessed sharp upside in share price leading to rise in its market valuation. This helped the multibagger stock to enter the big boys club and scale up to 6th spot in the list of India's most valuable Indian companies. However, the achievement didn't last for long and the stock witnessed sharp downside movement after SEBI official raised doubt over the FIIs pumping majority of its money in the Adani group stocks. As a result SEBI put Adani Wilmar shares in fourth level AGM scrutiny, which triggered sharp selling in Adani group stocks. In last one month, Adani Green Energy share price has tumbled more than 20 per cent.
After Kotak Mahindra Bank entering the big boys club, the private lender has become 4th Indian bank to enter the elite club. Other three banks in the list are ICICI Bank, HDFC Bank and State Bank of India or SBI. HDFC Bank still remains most valuable Indian bank followed by ICICI Bank and SBI. HDFC Bank is placed at 3rd spot in the list of top 10 Indian companies in terms of market cap whereas ICICI Bank is placed at 6th spot while SBI is placed at 7th spot. Kotak Mahindra Bank is place at 10 spot in the list of top 10 most valuable Indian companies.
Reliance Industries Limited or RIL continues to remain India's most valuable company with a market cap of ₹16,42,129 crore while TCS is placed at 2nd spot with market valuation of ₹12,35,533 crore.
