SBI pips TCS to become fourth most valued firm amid sharp IT stock slide

Group 1 - State Bank of India (SBI) has become the fourth-most valued company in India by market capitalization, surpassing Tata Consultancy Services (TCS) [1] - SBI's shares increased by 3.4% to a record high of ₹1,183, resulting in a market capitalization of ₹10.92 trillion [1] - TCS shares have decreased by 36% from their peak of ₹4,552, closing at ₹2,909, which values the company at ₹10.5 trillion [1] - The top three most valued companies in India are Reliance Industries (₹19.87 trillion), HDFC Bank (₹14.26 trillion), and Bharti Airtel (₹11.5 trillion) [1] Group 2 - Bharat Heavy Electricals' (BHEL) offer for sale (OFS) was oversubscribed, with demand for 220.8 million shares against 174 million shares available [2] - The floor price for the OFS was set at ₹254 per share, with most bids at ₹256 [2] - BHEL's shares fell by 5.6% in secondary market trading, closing at ₹260.7 [2] - The Government of India is selling a 5% stake in BHEL, which is expected to generate over ₹4,400 crore for the exchequer [2] - Citibank, ICICI Securities, and Nuvama are the investment banks managing the transaction [2]