SBI’s market cap surges past TCS; becomes fourth most valuable company

Government-owned lender State Bank of India (SBI) became the country’s fourth most valuable company, its market capitalisation surpassing that of Tata Consultancy Services, and hitting ₹10.9 lakh crore. The shares of the bank rose 3.2 per cent on Wednesday with over 2.9 crore shares being traded. Its market cap has been steadily rising and in the current fiscal so far has increased 58 per cent. Over the same period TCS’ market cap has fallen 17.8 per cent to ₹10.5 lakh crore.One-year gainsOver a one-year pe ...