SBI reclaims most-valued bank status

SBI reclaimed its position as the country's most valued bank surpassing private sector player HDFC Bank.

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.