ICICI joins club of 10 most valuable companies

The country's top private sector lender, ICICI Bank, made its entry into the list of the top-10 most valuable companies by market capitalisation this week, helped by a sharp rise in banking stocks.

With a market capitalisation (m-cap) of 1,28,016 crore, ICICI Bank now features at tenth rank in the list, knocking state-run BHEL out of the prestigious club. During the past week, ICICI Bank added Rs 10,809.4 crore to its m-cap.

Analysts said a sharp rise in financial stocks during the past week pushed up the m-cap of most banks.

"Banks led from the front on optimism that lending will pick up in a fast-growing Indian economy and that they are well capitalised," a broker said.

ref:
http://economictimes.indiatimes.com/markets/analysis/ICICI-joins-club-of-10-most-valuable-companies/articleshow/6584913.cms