SBI Market Cap: Amidst India’s growing economy and ongoing development, another relief news is coming out. State Bank of India (SBI), the country’s largest government bank, has crossed the business figure of Rs 100 lakh crore. The next target of the bank is to join the list of top 10 most valuable banks in the world by the year 2030.

Due to which the place and dominance of Indian banking will be established in the whole world. RBI is also continuously taking steps to reform the banking sector. Information has been given by SBI that the aim of the bank is to further increase its value and necessary steps are being taken for this.

SBI Chairman’s statement

SBI Chairman CS Setty has informed that, in terms of market cap, SBI is one of the largest government assets in the country. At the same time, the aim of the bank is to continuously increase its value. The chairman said that we have earned well in the last few years. Still our capital ratio is lower than many other banks. We have set a target of making CAR 15 percent and CET-1 12 percent. Which is a combination of a strong capital lever according to future needs.

CS Setty further said that capital has never hindered the growth of the bank. The profit of the bank has increased in the last 4-5 years, due to which the capital of the bank has also increased. As chairman, SBI has growth-supporting capital of Rs 6 to 7 trillion.

SBI touched $100 billion market cap

On the fourth trading day of the week, the market capitalization of SBI crossed 100 billion dollars, due to which it joined the list of big companies like HDFC Bank, TCS, Reliance, Airtel and ICICI Bank. In the September quarter, the net profit of the bank increased by 10 percent and crossed the figure of Rs 20,160 crore.

Read alsoDespite selling of Rs 76,609 crore, foreign investors’ confidence in these shares remains intact.

The condition of Pakistan’s neighboring country of Pakistan has been bad for decades. Pakistan, pressed under the debt of foreign banks, is struggling with its falling economy and poverty today. However, despite this, instead of improving his situation, he is engaged in carrying out terrorist conspiracies in India. Well, let us tell you about 4 companies of India, whose market cap is more than the total GDP of Pakistan in today’s time.

Market cap increased even after the market declines

Despite a slight decline in the stock market last week, four of the top-10 largest companies in the country gave relief to investors by increasing their market cap. While the BSE Sensex closed down 0.33 per cent, or 270 points. At the same time, LIC, SBI, Bharti Airtel and HDFC Bank together made a profit of more than 1.01 lakh crores.

LIC became the largest gainer

Government insurance company LIC was the biggest winner of this week. The company’s market cap increased by 59,233 crores to 6.03 lakh crore. This bounce was possible due to the rise in LIC shares.

SBI, Bharti Airtel and HDFC Bank also showed strength

The market cap of SBI, the country’s largest bank, increased by 19,589 crores to 7.25 lakh crores. At the same time, Bharti Airtel made a profit of 14,084 crore and HDFC Bank registered a profit of 8,462 crores. Indian Airtel’s market cap is currently Rs 11.13 lakh crore. While the market cap of HDFC reached 14.89 lakh crores.

6 companies including Reliance, TCS declined

On the other hand, big companies like Reliance Industries, TCS, ICICI Bank, Infosys, Bajaj Finance and Hul suffered losses. The TCS market cap fell by 17,909 crores to 12.53 lakh crore, while Reliance reached 19.22 lakh crore with a loss of 7,645 crores.

No change in the list of top-10 companies

There has been no change in the list of top-10 companies based on market cap. Reliance is still in number one, followed by HDFC Bank, TCS, Bharti Airtel and ICICI Bank.

What is a message for investors?

Experts believe that companies like LIC and SBI reveal that investors are still relying on government companies and banking sectors. However, there is still uncertainty in Tech and FMCG sector.

Also read: 4 out of top-10 companies more than Rs 1 lakh crore, LIC benefits the most