Amid the ongoing rally in the stock market due to the exit polls predicting landslide victory for the BJP-led NDA government, the State Bank of India (SBI) emerged as the seventh Indian listed company to have surpassed Rs 8 lakh crore market capitalisation on Monday.
The country’s largest public sector bank’s (PSB’s) m-cap crossed the milestone for the first time today after its share price rallied 8.4%, hitting a new high of Rs 899.55 on the BSE in the intraday trade.
SBI’s stock was up 8.2% at Rs 898.45 on the BSE at 11:58 AM, translating into a Rs 8.02-trillion market cap. In comparison, the S&P BSE Sensex was up 3.1% at 76,279.
Earlier, Reliance Industries, Tata Consultancy Services, HDFC Bank, Bharti Airtel, Infosys, and ICICI Bank have all attained this milestone.
Shares of SBI along with other PSU stocks are rising after the exit polls prediction. The final counting and announcement of result is to be held on June 4.
