Mumbai: State Bank of India (SBI) on Tuesday surpassed ONGC to become the country’s most valuable public sector unit (PSU), in terms of market valuation.
At the end of trade, the market cap of SBI stood at Rs2,35,307.51 crore. This is about Rs2,961.79 crore more than that of PSU energy major ONGC’s Rs2,32,345.72 crore. ONGC once used to be the country’s most-valued company in terms of market valuation.
Among the top-10 most valued companies list, SBI is at fifth position, while ONGC is seventh. Shares of SBI ended the day with a mild gain of 0.17% at Rs290.15, while ONGC fell by 1.12% to Rs181.05 on BSE.
In intra-day, shares of SBI rose by 2.33% to Rs 296.40 and ONGC lost 1.36% to Rs180.60. So far this year, shares of SBI surged almost 16% while that of ONGC fell by over 4%.
IT major TCS is the most valued Indian company with a market cap of Rs4,54,902.85 crore followed by RIL (Rs4,45,578.92 crore), HDFC Bank (Rs3,70,480.05 crore), ITC (Rs3,38,851.25 crore), SBI, HDFC (Rs2,35,122.56 crore), ONGC, Infosys (Rs2,11,870.18 crore), HUL (Rs1,97,464.44 crore) and Maruti Suzuki (Rs1,85,235.49 crore).