Kolkata: Bandhan Bank, the private sector lender, has entered the list of the top-50 most valuable companies in terms of market capitalization (m-cap) following a sharp surge in its stock price post listing.
Shares of Bandhan Bank hit a new high of Rs 540, up 1.5% on Thursday, rallied 13% since its debut. The stock gained 44% over the issue price of Rs 375. On comparison, the S&P BSE Sensex was up 2.6% during the same period.
Bandhan Bank has surpassed fast moving consumer goods companies Dabur India and Britannia Industries, New India Assurance Company, Tech Mahindra and Bharti Infrastructure in past 10 trading sessions. Bandhan Bank, the country’s eighth-most valuable lender, is now stood behind YES Bank, which have market-cap of Rs 717 billion.
Bandhan Bank, with an m-cap of Rs 640 billion, stood at 50th position in overall m-cap ranking on the BSE at 10:37 am, the exchange data shows. The bank climbed 5 positions in the m-cap pecking order since its debut on the bourses on March 27, 2018.