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The market cap of the bank reached Rs 7,25,036.13 crore and its share price closed at Rs 814 on Friday, May 30.
SBI news: State Bank of India (SBI), India’s largest government bank, earned Rs 19,589.54 crore this week after its shares gained 2.27 per cent in five days from May 26 to May 30. The market cap of the bank reached Rs 7,25,036.13 crore and its share price closed at Rs 814 on Friday, May 30. The surge in its market capitalisation comes despite a generally weak performance in the equity market. The BSE benchmark index slipped by 270.07 points or 0.33 per cent over the week.
Moreover, the combined market capitalisation of four out of the 10 most valuable companies, including SBI, rose by Rs 1,01,369.5 crore this week, with another state-run firm, Life Insurance Corporation of India (LIC), leading the gains.
Among the top 10 companies, HDFC Bank, Sunil Mittal’s Bharti Airtel, SBI, and LIC saw increases in their market value. While Mukesh Ambani’s Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Bajaj Finance, and Hindustan Unilever Ltd (HUL) experienced a total decline of Rs 34,852.35 crore in their valuations.
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LIC posted the largest gain, with its market cap soaring by Rs 59,233.61 crore to reach Rs 6,03,120.16 crore. SBI followed, adding Rs 19,589.54 crore, taking its total valuation to Rs 7,25,036.13 crore. Reliance remained the most valuable company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance, and HUL.
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