SBI becomes 5th most valuable firm; surpasses Infosys (Pic: X – @TheOfficialSBI)
New Delhi: Public sector lender State Bank of India (SBI) became the country’s fifth most valued firm by market valuation on February 21, 2024. The public sector bank surpassed IT major Infosys to achieve the feat. The SBI share price rallied 1.51 per cent to close at Rs 771.55 apiece on the BSE. During the intra-day trade, shares of SBI hit its 52-week high of Rs 777.50 per piece.
As the stock markets closed on Wednesday, the market capitalisation of the largest public sector bank stood at Rs 6,88,578.43 crore, which is Rs 1,228.48 crore more than Infosys’ Rs 6,87,349.95 crore valuation.
Meanwhile, Reliance Industries continued to be at the top spot among the 10 most valued firms in India. RIL is followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, SBI, Infosys, Life Insurance Corporation of India, Bharti Airtel, Hindustan Unilever and ITC.
Top 10 Companies in India by Market Valuation
Reliance Industries: $240.10 Billion
Reliance Industries Limited is a Fortune 500 company and the largest private sector corporation in India. It’s businesses include, Oil and Gas Exploration & Production, Refining & Marketing, Petrochemicals, Textiles, Polymers Polyesters, Fibre Intermediates, Aromatics Elastomers, Reliance Composites Solutions, Retail Investor Relations, Digital Services-Jio Investor Relations, New Energy & New Materials and Media & Entertainment.
Tata Consultancy Services: $175.89 Billion
TCS provides IT services to Industries, Banking, Capital Markets, Consumer Goods and Distribution, Communications, Media and Information Services, Education, Energy, Resources and Utilities, Healthcare, High Tech Insurance, Life Sciences, Manufacturing Public Services, Retail, Travel and Logistics.
HDFC Bank: $136.97 Billion
HDFC Bank is the largest private sector bank in India.
ICICI Bank: $89.44 Billion
ICICI Bank is the second largest private sector bank in India
State Bank of India: $83.04 Billion
Infosys: $82.73 Billion
Infosys is the second most valuable company in the IT sector of India.
Bharti Airtel: $81.41 Billion
Bharti Airtel Limited is a telecommunication company globally. It provides ICT services across India, the USA, Europe, Africa, Middle East, Asia-Pacific, and SAARC regions.
Life Insurance Corporation of India: $79.31 Billion
Life Insurance Corporation of India is the biggest public sector life insurance company. It is country’s largest insurance company.
Hindustan Unilever: $68.21 Billion
Hindustan Unilever Limited is India’s largest Fast Moving Consumer Goods (FMCG) Company. It was started over 90-years ago.
ITC: $60.71 Billion
ITC is a leading multi-business Indian enterprise with presence in FMCG, paper, packaging, agribusiness, hotels and IT.
