Bandhan Bank
Bandhan BankReuters

Kolkata-based Bandhan Bank has become the seventh most valued listed bank, leaving Yes Bank behind. The Bombay Stock Exchange (BSE) data showed that at the present level, the market capitalisation of Bandhan Bank is Rs 84,325.35 crore. 

Market capitalisation refers to the total rupee market value of a company's outstanding shares. It is commonly referred to as "market cap," which is calculated by multiplying a company's outstanding shares by the current market price of one share.

Bandhan Bank stands at Rs 84,325.35 crore in terms of the market cap after its shares rose by one percent on BSE at Rs 706.95. Comparatively, Yes Bank's market cap was Rs 84,262.14 crore. Its shares were trading 0.6 percent lower at Rs 365.70 from its previous close on BSE.

With a market cap of Rs 5.71 trillion, HDFC Bank Ltd continues to remain the country's most valuable bank. The State Bank of India and Kotak Mahindra Bank Ltd with Rs 2.67 trillion and Rs 2.46 trillion were at the second and third place respectively.

The bull has taken over Bandhan Bank's share since it announced its IPO in 2018. Its improved asset quality, as well as better-than-expected revenues, has helped its stock. The lender has the lowest gross non-performing assets (NPA) of 1.26 percent, which is the lowest among Indian banks.

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A view of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).IANS

The numbers are really impressive for the bank it has registered return on asset close to 3.5 percent and net interest margin more than 10 per cent which also is the best among all Indian banks. These are major some major reason that the investors are still giving it a "buy" call despite trading at relatively high valuations of close to 5.9 times its expected book value for the current financial year.

The share prices of Bandhan Bank has risen 84 percent since listing on March 27 as against the S&P Bankex, the broader gauge of banking stocks, which only increased by 13.55 percent during the same period.

All the major brokers have been giving a "buy" rating with another giving it a "hold" rating. None of the brokerage house has given a "sell" rating to the ever growing bank.

Here are the top 10 Indian banks based on their market capitalisation:-

Sr. No. Bank Market Cap (Rs. Cr.)
1 HDFC Bank 570,242.55
2 State Bank of India 263,364.58
3 Kotak Mahindra Bank 250,567.03
4 ICICI Bank 192,363.03
5 Axis Bank 139,929.81
6 IndusInd Bank 119,592.84
7 Bandhan Bank 84,325.35
8 Yes Bank 84,262.14
9 Bank of Baroda 39,854.70
10 IDBI Bank 25,986.09