Mumbai/IBNS, May 18 -- Bharti Airtel has surpassed HDFC Bank to become the second-most valued company in India by market capitalisation (m-cap), media reports said.

The telecom giant is now behind only Reliance Industries, whose market capitalisation is over Rs. 18.11 lakh crore.

Airtel shares continue rally

Extending gains for the fourth consecutive trading session, Bharti Airtel shares surged nearly 3 percent during intraday trade on Monday.

The stock has rallied around 11 percent in the last four sessions and has gained roughly 4 percent so far in May.

Rapid rise in market valuation

Bharti Airtel's steady rally has significantly boosted its market standing in recent months.

The latest surge has now pushed the telecom major to th...