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State Bank of India Overtakes TCS With $122 Billion Market Cap

India’s largest public lender surpasses Tata Consultancy Services after 15 years, achieving a market capitalization of ₹11.03 trillion ($122 billion).

Summary

The State Bank of India (SBI), the country’s largest public sector bank, has overtaken Tata Consultancy Services (TCS), India’s leading IT services company, for the first time in 15 years with a market capitalization of ₹11.03 trillion (about $122 billion). The milestone reflects strong investor confidence in India’s banking sector as financials outperform technology stocks in 2024.

Terms & Concepts
  • Market Capitalization: The total market value of a company’s outstanding shares, calculated by multiplying share price by total shares.
  • State Bank of India (SBI): India’s largest public sector bank, providing retail and corporate banking services.
  • Tata Consultancy Services (TCS): One of India’s leading IT services and consulting companies, part of the Tata Group.