State Bank of India, the country's biggest lender on Friday became the first public sector bank to touch a market capitalisation of Rs 1,00,000 crore.
"We have crossed this milestone for the first time in about 200 years, while doubling the market cap in my tenure (of about 18 months)," SBI Chairman O P Bhat told reporters here.
The company's shares today surged to an intra-day high of Rs 1,952 in early afternoon trade, giving it a market cap of about Rs 1,02,700 crore. The shares were trading 2.62 per cent up at Rs 1,935.50 on Bombay Stock Exchange later in the day.
"One lakh crore has happened and hopefully, two lakh crore would also happen soon," he said.
Currently, there are ten companies on the Indian bourses with a market cap of more than Rs 100,000 crore, including SBI, which today became the tenth most valued firm.
Earlier yesterday, state-run power equipment maker BHEL had also crossed this milestone in intra-day trade, but later slipped below this level.
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SBI crosses Rs one trillion m-cap
Replies (5)
Single Chinese Bank Market Capitalizations is Exceeding to all banking sector of India,WE have to cross many more milestone and without wasting anymore time,and canalized Young Generations efforts in right directions.Not in cricket & Film Industry.
do u know the total market cap of top 3 us companies is greater than the entire BSE..
fine Riya keep it Up,Let's realized the authorities about their stupidities in this country,& Potentialities of this Country.
There is much Upside potential left in State bank of india the countrys largest bank because of follwing reasons.
1)Banking sector is in Bullish phase as interest rate hase peaked out and there may be interest rate cut in near future from RBI
2)It might come out with FPO or Right issue in near future
3)it is trading at a premium of About 15%-20% in Fii to Fii segment which reflects that it is among the favourite stock among FIIs
4)Due to much Awaited consolidation which has started with its decision to merge its associate bank SBT
5)Due to value unlocking of its Insurance subsidary
6)it has huge share of low cost Current & saving Deposit
7)moreover its advance tax numbers are also very good which shows that bank will post very good numbers in upcoming Quarters
So investors can Buy this stock with medium to long term time Horizon
Happy investing
Still SBI has to learn lesson from all segments.
1.Traditional banks with traditions products has to follow IT compulsorily on accounts of market demand and remains in market.
2.Most of The Employees R not as dynamic in decision making as their counterpart private bankers ICICI.
3.Most of the Employees Fears Jobs on accounts of change witness th through IT sector in Banking,but now a day it's discounted mostly.
4.Willingness and Capabilities to Introduced Strucutered Innovative Banking and Financial Products,Considering the masses Illiterate populations of Country.
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