Saturday, September 22, 2012

State Bank of India is now most valued bank

Mumbai, September 21:  SBI today reclaimed its position as the country’s most valued bank with a total market valuation of over Rs 1.48 lakh crore, surpassing private sector player HDFC Bank. Shares of State Bank of India surged 4.3 per cent to close the day at Rs 2,212.6, taking its market value to Rs 1,48,475 crore, making it the overall seventh most valued company.

On the other hand, shares of HDFC Bank gained 3.02 per cent to Rs 625.25. In the process, the market capitalisation (m-cap) of the private bank rose to Rs 1,47,444 crore. HDFC Bank had on July 27 toppled SBI to become the country’s most valued lender in terms of market cap.

Meanwhile, Reliance Industries Ltd (RIL) continued to remain at the number one position with a m-cap of Rs 2,74,987 crore, while TCS was at second place with Rs 2,55,084 crore value. It was followed by ONGC (Rs 2,50,975 crore), Coal India (Rs 2,34,905 crore) and ITC (Rs 2,05,254 crore). Among the top-10 on the...


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