iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

SBI overtakes Infosys, claims fifth spot in market cap race

26 Mar 2024 , 03:16 PM

The largest lender in the nation by assets, State Bank of India (SBI), has ascended the market capitalization ladder once more, this time surpassing Infosys, a major software company. SBI's stock has increased by as much as 20.5% so far in February, marking its biggest monthly gain in three years. 

When it increased by 38.3% in February 2021, similar improvements were last observed. Additionally, the state-owned lender overtook LIC in market valuation last week to retake its position as the most valuable PSU. A 10% decline in the price of LIC's shares allows SBI to reclaim the title of most valuable PSU.

SBI is now ranked fifth in the market valuation rankings, after Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, and ICICI Bank. Its valuation is ₹6.89 Lakh Crore. It's interesting to note that three of the top five companies are from the banking industry, dominating the list. The increased participation rate from the banking industry is a sign of the growing influence that financial firms have over investors. Infosys' market capitalization was ₹6.87 Lakh Crore as of Wednesday's close.

TCS is valued at ₹14.4 Lakh Crore, whereas RIL is ranked first on the valuation chart with a market capitalization of over ₹20 Lakh Crore. HDFC Bank (₹10.9 Lakh Crore) and ICICI Bank (₹7.4 Lakh Crore) came next.

SBI reported lower-than-expected results for the quarter ended December 31, 2023, mostly due to one-time charges associated with pay settlement. The one-time pension and dearness allowance costs were estimated to be ₹7,100 Crore, and the extraordinary items were mostly anticipated. Nonetheless, the bank demonstrated some improvement in asset quality in Q3 and effectively managed its net interest margins (NIMs). In Q3FY24, the biggest lender posted a net profit of ₹9,164 Crore, a 35% YoY decrease.

Even though the number of newly formed nonperforming loans (NPLs) has increased by 57% year over year (YoY), according to Jefferies, which has a buy recommendation on SBI and a 12-month target price of ₹810, the rate of accretion is still relatively low. Across all categories, the Gross NPL ratio is low at 2.4%, while the coverage ratio is strong at 74%.

The shares of SBI have yielded a 35% gain in the past six months. In comparison, the benchmark Nifty50 returned 14% over the same period, while the shares of Infosys have increased by 18%.

For feedback and suggestions, write to us at editorial@iifl.com

SBI Current Account: Features, Benefits & Fees 2024 – Forbes Advisor INDIA

Related Tags

  • Market Capitalization
  • PSU
  • sbi
sidebar mobile


Read More
Knowledge Centerplus

Logo IIFL Customer Care Number
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

Knowledge Centerplus

Follow us on


2024, IIFL Securities Ltd. All Rights Reserved

  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.


Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp