SBI hits 5 trillion market capitalisation
India’s one of the biggest lenders State Bank of India has crossed 5 trillion market capitalization and become 3rd largest lender in the country whereas HDFC holds first position with 8.38 trillion market capitalization and in the second position here comes ICICI bank with a market capitalization of 6.33 trillion.
The value of one share of State Bank of India records a high value of 564.45 which is 1 percent high on the BSE intra day trade. State Bank of India has become seventh in the overall market capitalisation ranking across the country. It is a great achievement for the State Bank of India and paves the way of future growth of the value of the bank.
The State Bank of India has gained this position by surging 26 percent and alongside ICICI and HDFC have also recorded a surge in the same period. ICICI gained 32 percent while HDFC surged 15 percent. The net value of the State Bank of India’s market capitalisation crossed 5 trillion by achieving the above mentioned surge.
State Bank of India is the largest bank and lender across the country with an over 54 trillion balance sheet size. The State Bank of India now became the seventh most valuable company with over 5 trillion market capitalization in the list of top 100 companies with respect to their market capitalization.
Other important facts:
In the first position in the list of top 100 valuable companies, The Reliance industries tops the list with around 17 trillion market capitalization followed by TCS with a 11 trillion market capitalization.
Market capitalization of a company is defined as an aggregate net value of a company based on its current share price and total stocks. It is also called Market cap.
In July 2022, State Bank of India had set a milestone by surpassing Life Insurance Corporation of India and had become a top valuable bank. Life Insurance Corporation had a 4.50 trillion market capitalisation at that time. Now the bank has gained the seventh position across the country in the list of market capitalisation.
The State Bank of India is showing a great growth in the terms of market capitalisation and giving positive outcomes for the economy of the country. Banks are the backbone of the economy of any country. When banks grow , the economy of that particular country grows eventually.
Questions And Answers:
Q1. State Bank of India now has how much market capitalisation?
Ans. Over 5 trillion
Q2. Which company stands at the first position in the list of top 100 companies in terms of their market capitalization?
Ans. Reliance Industries followed by TCS.
Q3. Which are the top 3 landers in the country?
Ans. HDFC bank, ICICI Bank and State Bank of India.