SBI Ranks 7th In Terms Of Market Capitalization

SBI ranked seventh in the league table of the companies with

highest market capitalization. It was not a part of the 10 mostvalued companies list at the beginning of the year because of bad
loans' concerns and decaying sentiment towards public sector
bank (PSB) stocks.
Despite weakness in the broader market, SBI has moved ahead
of HDFC, Coal India, Hindustan Unilever and Sun
Pharmaceutical. This year saw a sharp 16 per cent rally in its
share price. As a matter of fact, SBI has been one of the best performers in banking stocks
among Sensex constituents, which also has HDFC Bank, ICICI Bank and Axis Bank.
Since the beginning of the year, the lender has added Rs 28,000 crore in value crossing the
Rs 2 lakh crore market cap mark. After the recent demonetization move, shares of some of
the private sector banks have weakened. Analysts are of the view that SBI can benefit from
the demonetization drive, given the state-owned lender's wide reach. It will help SBI in
mobilizing
more
deposits,
helping
it
lower
the
cost
of
capital.

Current mcap
SBI

202,570

YTD change %
16.3

Rank
Current
7

Rank
start of the yr
11

As of now, SBI share price is quoting at Rs. 254.85, up by 0.51 per cent.
Meanwhile, SBI opened over 12,500 accounts during two-day special camps organized in
four states of Punjab, Haryana, Himachal Pradesh and Jammu and Kashmir.
The Chandigarh circle of the bank organized camps for the opening of accounts at 405
locations in these states on November 26 and 27.
Over 12,500 accounts were opened over the long weekend. Most of the new customers
attained comprised workers from the unorganized sector, wage earners, women and students.
All the new accounts were seeded with Aadhaar and Mobile numbers.

All the Customer Service Points (CSPs) run by its Banking Correspondents (BCs) were
involved in the two-day long account opening campaign. Just to serve target segments better
through its BC Channel, the bank has also installed 645 Micro ATMs at CSPs, especially in
rural and semi-urban areas, which includes far-flung hilly terrains, it said. The micro ATMs
provide instant cash payment. Even customers of other Banks can also be made using the
micro ATMs through Rupay and debit cards. Bank plans to double the number of such Micro
ATMs
during
December
2016.
Dynamic Levels has identified SBI as one of the top 500 performing stocks for this quarter.

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Article Written by
Madhurima Chowdhury