ICICI Bank joins $100 billion market cap club, 6th Indian firm to do so

ICICI Bank reached a market capitalization of 100 billion dollars or 8.4 lakh crore rupees on June 25, becoming the sixth Indian company to achieve this milestone.

The bank's share price increased over 2 percent intraday, closing at 1,196 rupees, up 2.25 percent. ICICI Bank is the second largest bank in India by market capitalization, following HDFC Bank.

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Since June 4, the day of the general election results, ICICI Bank's stock has increased nearly 12 percent, outperforming the Nifty's 8 percent return during the same period and matching the gains of the Bank Nifty.

Over the past year, ICICI Bank's share price has risen nearly 29 percent, outperforming the bank nifty.

Other Indian companies with a market capitalization exceeding 100 billion dollars include Reliance Industries Ltd, Tata Consultancy Services, HDFC Bank, and Bharti Airtel.

Infosys also reached 100 billion dollars in market capitalization in January 2022 but has not maintained that level.