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State Bank of India Races Ahead of TCS, Climbs to 4th Spot in Market Rankings
State Bank of India: SBI has surpassed Tata Group's giant Tata Consultancy Services (TCS) in terms of market capitalization. The company, which operates the country's largest public sector bank, has now become the country's fourth-largest company. Learn how quarterly results and a surge in its shares changed its market ranking.
The Indian stock market witnessed a major reversal on Wednesday. The country’s biggest public sector bank, State Bank of India, has managed to go past the IT major Tata Consultancy Services (TCS) in terms of market capitalization. The rise in the share price of the country’s biggest public sector bank due to its impressive quarterly results has enabled it to become the country’s fourth most valuable listed company after Reliance, HDFC Bank, and Bharti Airtel.
The data released at the end of the trading session on Wednesday caught the attention of market analysts. The shares of the company appreciated by 3.40 percent to close the session at ₹1,183 per share on the BSE. The shares appreciated by 3.23 percent to close the session at ₹1,181.10 on the NSE. The shares of the company saw tremendous enthusiasm on the trading day as the shares gained close to 4 percent and hit a new 52-week high of ₹1,187.70.
This surge had a direct impact on the company's overall valuation. SBI's market cap ended the session at ₹10,91,982.06 crore. In contrast, TCS shares fell 2.5 percent, reducing its market cap to ₹10,52,646.38 crore. Thus, the state-owned bank pushed back the valuation of the IT giant.
This latest reshuffle has changed the landscape of the top companies in the Indian stock market. Reliance Industries remains the country's most valuable company by market cap. Following this, HDFC Bank is at second place and Bharti Airtel at third. SBI is now at fourth place, while TCS has slipped to fifth place. The list is followed by companies like ICICI Bank, Bajaj Finance, Infosys, Hindustan Unilever, and Larsen & Toubro.
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This rise in SBI shares is not without reason; it is due to the bank's strong financial performance. Just last week, the bank released its December quarter results for FY2026, in which it reported its highest-ever profit of ₹21,028 crore on a standalone basis. Meanwhile, on a consolidated basis, the bank's profit increased by 13.06 percent to ₹21,317 crore.
The bank's core income, i.e., its total interest income, also increased. It rose 9.04 percent to ₹45,190 crore from ₹41,446 crore in the same period last year. The bank also achieved strong growth of 15.14 percent on the loan disbursement front. This supported profits despite a slight pressure of 0.03 percent on the domestic net interest margin.
The bank's non-interest income also saw a good increase. It increased by 15.65 percent to ₹8,404 crore in the December quarter. However, the bank's expenses also increased. Total expenses increased to ₹1,08,052 crore compared to ₹1,04,917 crore in the third quarter of the previous fiscal year. Despite this, investors have expressed confidence in the bank's growth story, as evident from the surge in share prices.
