State Bank of India Overtakes Infosys as Fifth Most Valued Firm in India

New Delhi: The State Bank of India (SBI), a public sector lender, has achieved a significant milestone by surpassing IT giant Infosys to become the country’s fifth most valued firm by market valuation. This achievement was marked on Wednesday as SBI’s shares soared by 1.51 percent, closing at Rs 771.55 apiece on the Bombay Stock Exchange (BSE).

During the day’s trading session, SBI’s stocks reached their 52-week high, hitting Rs 777.50 per piece, reflecting investor confidence in the bank’s performance.

At the closing bell, SBI’s market capitalization stood at Rs 6,88,578.43 crore, exceeding Infosys’ valuation by Rs 1,228.48 crore, positioning SBI as the fifth most valued company on the BSE.

This development underscores the growing prominence of SBI in the Indian market landscape, with its ascent in the ranks of top-valued firms. The current top 10 most valued companies list on the BSE includes Reliance Industries at the helm, followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, SBI, Infosys, Life Insurance Corporation of India, Bharti Airtel, Hindustan Unilever, and ITC.

SBI’s rise to the fifth position not only highlights its own robust performance but also reflects broader trends in the Indian financial sector. As students and enthusiasts of economics and business, understanding such market dynamics can provide valuable insights into the workings of the economy and investment landscape.