SBI pips HDFC Bank to regain most valued bank status

SBI pips HDFC Bank to regain most valued bank status
India's largest lender, State Bank of India (SBI) today regained its position of country's most valued bank amid a stellar stock market rally driven by slew of reforms announced by the government, with a total market valuation of Rs 1.48 lakh crore, pipping second largest private sector lender HDFC Bank.

On a Fantastic Friday for markets and investors, SBI gained 4.3 per cent to close at Rs 2,212.6, taking its market value to Rs 1,48,475 crore and becoming the seventh most valued company by market cap.

HDFC Bank gained 3.02 per cent to Rs 625.25 but at the end of the day, its market cap stood at Rs 1,47,444 crore, marginally lower than that of SBI.

HDFC Bank had surpassed SBI on July 27 to become the country's most valued lender.

Besides, Reliance Industries stayed at top most position with m-cap of Rs 2,74,987 crore, followed by TCS with Rs 2,55,084 crore value.

Among the lenders, SBI was at seventh position, followed by HDFC Bank at eighth position and ICICI Bank with market cap of Rs 1,22,821 crore at tenth place.

Read more about: state bank of india
Story first published: Saturday, September 22, 2012, 9:30 [IST]
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