HDFC Bank, world's most expensive bank in terms of price to book, became the third Indian company and the first Indian bank to cross a new milestone of Rs 5 lakh cr in market capitalisation on Thursday.

IT major Tata Consultancy Services and Reliance Industries are the other two companies which have crossed market capitalisation of Rs 5 lakh cr so far in India.

RIL remained the most valued company with a market cap of Rs 5.57 lakh cr, followed by TCS with a market cap of Rs 5.57 lakh cr.

The bank which posted 20 per cent-plus growth for last several quarters, surpassed ING Group on Thursday to become world's 22nd most valuable bank in terms of market cap.