State Bank of India (SBI), India’s largest bank, has become the most valuable listed public sector undertaking (PSU) after surpassing Life Insurance Corporation of India’s (LIC) market capitalisation (market cap)
SBI shares jumped almost 7 per cent. This took market capitalisation of the bank to Rs 4,53,727.26 crore at 2:10 pm on Wednesday (July 13). At the same time, LIC’s market cap was at Rs 4,35,570.97 crore
The state-owned PSU bank has become the seventh largest company in the overall market-cap ranking of listed companies on the BSE. LIC slipped to number eight in the list with a market cap of Rs 4.38 trillion, the BSE data showed.
In past one month, SBI stock has rallied by more than 17 per cent. During the same time period, LIC’s stock has gained 4 per cent. BSE Sensex has been up by 7.6 per cent during the same period.
In fact, in last one week SBI has gained almost 5 per cent. There was a decline of 4 per cent in LIC’s share price.
Since its listing on May 17, 2022, LIC has lost around 1.15 lakh crore market cap. But during the same period SBI’s market cap got a filip of Rs 36,367 crore, as per BSE data.
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