SBI: SBI on a roll, m-cap crosses Rs 5 lakh crore – Blue Barrows

Mumbai: The market capitalisation of , the country’s biggest lender, crossed ₹5 lakh crore on Wednesday for the first time ever. SBI shares, which gained 2.3% on Wednesday to hit an all-time high of ₹574.75, had a market value of ₹5.10 lakh crore.

SBI is the third bank in the country to cross ₹5 lakh crore in market value. The other two banks are HDFC Bank and

, which command a market cap of ₹8.51 lakh crore and ₹6.39 lakh crore, respectively.

Shares of the public sector lender gained 188% in the last two years, surpassing the market value of blue chips such as HDFC,

, , , , , , and to become the seventh most-valued company in India.

ICICI Bank shares surged 152% in the last two years.


‘Asset, Liability Mkt Share Protected’

, , and have gained 82.3%, 49.8%, and 44.5%, respectively. SBI’s core fundamentals continue to be on a strong footing, and improvement in systemic growth should drive incremental re-rating for the stock, said analysts.
“SBI has protected its asset/liability market share over last five years, and with increasing signs of stronger corporate credit demand emerging, we see it as one of the best-placed banks to ride the upturn,” said Sameer Bhise, analyst, . “SBI is currently trading at 1.2 x one-year P/B for the core banking business. We see a greater probability of the bank trading closer to 1 standard deviation above its long-term valuation average as seen in FY11-13.”