The market capitalisation of HDFC Bank touched a high of Rs 4.73 lakh crore. However, in the afternoon trade, shares of TCS regained the lost ground and ended the session with a market capitalisation of Rs 4.76 lakh crore, data from the stock exchange showed.

Shares of the private lender have climbed nearly 12% in the last three months adding Rs 52,450 crore to its total market cap. On the other hand, shares of TCS lost the ground by losing 8% of the value during the same period, which allowed the lender to overtake.

So far in 2017, HDFC Bank has outperformed the market by surging 52.3% as compared to 21% rise in the S&P BSE Sensex. On the other hand, the technology major TCS, underperformed with 5.3% gain. In fact the stock had lost 3.2% of its value last year as well. IT stocks have been faring badly in the recent past because of multiple headwinds such as US government’s crackdown on work visas and appreciation of Rupee against the US dollar.

As of Tuesday, 86.8% of the 53 analyst that track HDFC Bank had a buy recommendation on the stock with those of JP Morgan having a one year price target of `2,100 per share as compared to Tuesday’s closing price of Rs 1,834.15 observed that “The bank’s high share of retail loans – high-yield non-mortgage segments will drive strong revenue income.”

The brokerage which has an overweight rating on the stock also said that the strong digital platform should drive market share and cost efficiencies over the next two to three years and strong corporate underwriting should result in stable asset quality in the longer term. According to the research house, the premium valuations are supported by 20%+ EPS growth in prospects and high return ratios.

Mukesh Ambani-led Reliance Industries claimed the numero uno position with a market valuation of Rs 5.36 lakh crore.