SBI reclaims most-valued bank status
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State Bank of India (SBI) today reclaimed its position as the country's most valued bank with a total market valuation of over Rs 2.25 lakh crore, surpassing private sector player HDFC Bank.
At 1008 hours, shares of SBI gained 2.2% to Rs 304 on BSE, taking its market value to Rs 226,734 crore, making it the overall sixth most valued company.
On the other hand, shares of HDFC Bank up 1% to Rs 926 have the market capitalisation (m-cap) of Rs 223,699 crore, BSE data shows.
Market capitalisation or the value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time.
Shares of SBI, the country’s largest public sector lender trading at its four-year high, has gained 4.5% in past two trading sessions after the stock turned ex-stock split. The bank had subdivided the face value of its equity shares to Re 1 from Rs 10.
Meanwhile, the stock has outperformed the market by gaining 11% since November 13 after the bank said its asset quality was stable during July-September 2014 (Q2). The benchmark S&P BSE Sensex was up 1% during the same period.
The bank’s gross non-performing asset (NPA) as a percentage of total advances was at 4.89% in Q2FY15 against 4.9% in Q1FY15. Net NPA was at 2.73% against 2.66% sequentially. Gross and Net NPA stood at 5.64% and 2.91% respectively in September 2013.
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