SBI Now India's Fourth Most Valued Company, Ahead of TCS

State Bank of India (SBI) has emerged as the fourth most valued listed company in India, surpassing Tata Consultancy Services (TCS) following a sharp rally in its stock price. On Wednesday, SBI shares climbed 3.8% intraday to hit a fresh all-time high of ₹1,187 on the NSE. The surge added over ₹38,000 crore to its market capitalisation, taking the total to ₹10.94 lakh crore and pushing it ahead of TCS, whose valuation slipped to ₹10.54 lakh crore amid weakness in IT stocks.

Trading activity in SBI remained robust, with volumes nearly double the 30-day average and turnover touching ₹2,500 crore. Technical indicators suggest strong momentum, with the Relative Strength Index (RSI) at 76, placing the stock in overbought territory. The shares have gained 11% so far this week and are now approaching the consensus 12-month target price of ₹1,210, implying limited near-term upside of about 2%.

The rally follows an impressive set of December quarter earnings that exceeded market expectations. SBI reported a 9% year-on-year rise in net interest income (NII) to ₹45,190 crore, supported by steady loan growth. Net interest margin (NIM) improved sequentially by 2 basis points to 2.99%, with management expressing confidence that margins will cross the 3% mark in the coming quarter.

Also Read: Gujarat’s Republic Day Tableau Awarded Popular Choice Title in Delhi

Chairman CS Setty highlighted sustained credit demand across retail, MSME, and corporate segments, reflecting strong underlying economic activity. The bank has revised its FY26 credit growth guidance upward to 14–15%, compared with the earlier estimate of 12–13%. This optimistic outlook has reinforced investor confidence in SBI’s growth trajectory and operational stability.

Brokerage sentiment remains overwhelmingly positive. Of the 49 analysts tracking the stock, 42 have assigned a “buy” rating, while seven maintain a “hold” recommendation, according to Bloomberg data. Among Indian lenders, SBI continues to rank as the second most valued bank after HDFC Bank, followed by ICICI Bank, Kotak Mahindra Bank, and Axis Bank, further cementing its leadership position in the sector.

Also Read: Gujarat Wins Republic Day Popular Choice Award for Fourth Consecutive Year