SBI market cap touches ₹10 trn; stock hits new high, zooms 36% in 6 months

The stock price of SBI hit a new high of ₹1,083.95 on the BSE in Sunday's intra-day trade and has rallied 10% thus far in the calendar year 2026.

SBI market cap crosses ₹10 trillion

 

State Bank of India (SBI) today hit the ₹10 trillion-market capitaliastion (market cap) milestone, as the stock price of the public sector bank (PSB) rallied to a new high of ₹1,083,95 on the BSE in intra-day deals. SBI on Sunday (Budget day) became the first state-owned stock and third Indian bank to hit the ₹10 trillion market cap.

 

Currently, in banking space, the private sector lender HDFC Bank tops of the list with a market cap of ₹14.39 trillion. ICICI Bank’s market cap stands at ₹9.79 trillion, and had hit a record high of ₹10.62 trillion on July 28, 2025.

 

Overall among Indian-listed companies, Reliance Industries stands at number one position with a market cap of ₹19 trillion, followed by Bharti Airtel (₹11.84 trillion) and Tata Consultancy Services (₹11.28 trillion).

 

At 10:33 AM; with ₹9.98 trillion market cap, SBI stock price was up 0.32 per cent at ₹1,082.95 on the BSE, the exchange data shows.

 

SBI outperforms HDFC Bank, ICICI Bank thus far in 2026

 

The stock price of SBI hit a new high of ₹1,083.95 on the BSE in Sunday‘s intra-day trade. Thus far in the calendar year 2026, SBI has rallied 10 per cent, as compared to 3 per cent decline in the BSE Sensex. HDFC Bank has seen its market price decline by 5.6 per cent, while ICICI Bank gained 1.3 per cent during the same period.

 

Further, in the past six months, SBI has surged 36 per cent, as against 2.3 per cent gain in the BSE Sensex. During the same period, the stock price of HDFC Bank and ICICI Bank were down 7 per cent and 8 per cent, respectively.

 

SBI Q3 results date and analyst meet timing

 

SBI on Wednesday, January 21, 2026 informed that a meeting of the Central Board of the Bank will be held on Saturday, February 7, 2026 at Mumbai, inter-alia, to consider the financial results of the Bank for the quarter ended December 31, 2025 (Q3FY26).

 

An analyst meet will be conducted on February 7, 2026 at 5.00 PM post Q3FY26 Results at State Bank Bhavan Auditorium, the bank informed.  Check Stock Market LIVE Updates

 

Brokerages view SBI, Banking sector

 

SBI remains poised for sustainable growth, led by healthy credit expansion and well-managed asset quality. In Q3FY26, SBI is poised for industry-leading growth of 13-14 per cent year-on-year (YoY), driven by growth in the retail, agriculture, and MSME (RAM) segments, pick-up in personal loans, and selective utilization of working capital limits, even though corporate capex cycle remains muted.

 

Asset quality remains a key strength for SBI. The bank reported GNPA of 1.73 per cent and NNPA of 0.42 per cent, with a provision coverage ratio (PCR) of 75.8 per cent (92.3 per cent including an advance under collection account (AUCA) and a corporate PCR of 98.68 per cent). Credit cost in September 2025 quarter (Q2FY26) was benign at ~39bp, reflecting disciplined underwriting and steady recoveries. Motilal Oswal Financial Services expect credit cost to remain low at 40-50bp over FY26-28E as well.

 

NIMs improved in Q2, aided by deposit repricing and recent CRR cuts. The bank expects NIMs to remain unchanged at >3 per cent in March 2026 quarter (Q4FY26). SBI’s structural advantage, i.e., low-cost CASA, pricing discipline and diversified loan mix, provide comfort that margins can remain resilient. The brokerage estimates the calibrated improvement to be 2.9-3.0 per cent over FY27-28.

 

Analysts at DRChoksey FinServ remain constructive on SBI, supported by the upward-revised credit growth guidance of 12–14 per cent for FY26, a healthy corporate pipeline, and stable NIMs (above 3 per cent) and CRR-related tailwind ahead. 

 

The bank’s strategic priorities include operational upgrades under Project SURL, Yono 2.0 rollout, and talent/technology investments. The bank has strengthened capital through an ₹25,000 crore QIP and plans value unlocking via listings of SBI Asset Management Company (AMC) and SBI General.  ==============================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.