A major upheaval was seen in the Indian stock market on Wednesday. The country’s largest government bank, State Bank of India, has overtaken the giant IT company Tata Consultancy Services or TCS in terms of market cap. The rise in shares of the country’s largest public sector bank on the back of excellent quarterly results has now made it the fourth most valuable listed company in the country after Reliance, HDFC Bank and Bharti Airtel.
SBI shares rose up to 3.40% on BSE
The data released at the end of Wednesday’s trading session caught the attention of market analysts. SBI shares closed 3.40 per cent higher at Rs 1,183 per share on BSE, while on NSE it closed at Rs 1,181.10, up 3.23 per cent. During the day’s trading, the bank’s shares witnessed tremendous enthusiasm from investors and jumped almost four per cent to its new 52-week high of Rs 1,187.70.
This surge had a direct impact on the overall valuation of the company. The market cap of SBI was recorded at Rs 10,91,982.06 crore at the end of the session. In sharp contrast, TCS shares fell by 2.5 percent and its market cap dropped to Rs 10,52,646.38 crore. In this way the government bank pushed back the valuation of the IT giant.
Change in ranking of top companies
After this latest reshuffle, the picture of the top companies of the Indian stock market has changed. Reliance Industries still remains the most valuable company in the country in terms of market cap. After this, HDFC Bank is at second position and Bharti Airtel is at third position. SBI is now at fourth position, while TCS has now slipped to fifth position. The subsequent list includes companies like ICICI Bank, Bajaj Finance, Infosys, Hindustan Unilever and Larsen & Toubro.
What is the reason for the rise in SBI shares?
This rise in SBI shares is not without any reason, but the strong financial performance of the bank is behind it. Only last week, the bank released the results for the December quarter of FY 2026, in which the bank reported achieving the highest ever profit of Rs 21,028 crore on a standalone basis. And on a consolidated basis, the bank’s profit increased by 13.06 percent to Rs 21,317 crore.
The bank’s core income i.e. its total income from interest has also increased. This has increased by 9.04 percent to Rs 45,190 crore from Rs 41,446 crore in the same period last year. On the loan distribution front also, the bank has achieved a strong growth of 15.14 percent. This has supported profits despite slight pressure in domestic net interest margin of 0.03 per cent.
What are the bank’s income figures from other sources saying?
The bank has also seen a good increase in non-interest income. It increased by 15.65 percent to Rs 8,404 crore in the December quarter. However, bank expenses have also increased. Total expenditure has increased to Rs 1,08,052 crore as against Rs 1,04,917 crore in the third quarter of the last financial year. Despite this, investors have expressed confidence in the bank’s growth story, which is clearly evident from the surge in share prices.
