Government-owned Indian bank amasses INR 19589 crore in mere...; market value skyrockets to...
🎉 BOOM! SBI's Market Cap Skyrockets, Dude!
updating ya'll on the latest SBI news!
State Bank of India (SBI), India's giant government bank, raked in a whopping Rs 19,589.54 crore this week from May 26 to May 30, thanks to a 2.27% surge in its shares. But wait, there's more! SBI's market cap reached an insanely massive Rs 7,25,036.13 crore, and its share price closed at a wild Rs 814 on Friday, May 30.
Why, you ask? Well, despite a kinda rough week for the equity market (BSE benchmark index slipped by 270.07 points), SBI managed to pull off this sick gain. You know who else slaughtered it? Life Insurance Corporation of India (LIC), which saw its market cap soar by a staggering Rs 59,233.61 crore!
With LIC leading the charge, the combined market cap of the big 4 (yep, that includes SBI) out of the top 10 most valuable companies surged by a whopping Rs 1,01,369.5 crore this week. Not everyone was winning, though—some like Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Bajaj Finance, and Hindustan Unilever Ltd (HUL) experienced a collective decline of Rs 34,852.35 crore in their valuations.
Now, here's the scoop on the other top 10 companies:
- HDFC Bank: Added some bucks to its market value.
- Sunil Mittal's Bharti Airtel: Some gains, too.
- SBI: Yep, that's our boy!
- LIC: Hugest gains, son!
- Reliance Industries: Well, not everyone can win, can they?
- TCS, ICICI Bank, Infosys, Bajaj Finance, and HUL: Ain't no party like a valuation decline party!
So, SBI's still the most valuable company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India (yeah, they're there twice), Infosys, LIC, Bajaj Finance, and HUL. Mind-blowing stuff, huh?
Stay tuned for more scintillating SBI news, my friends! 🚀💣💥 Follow us on WhatsApp for daily updates!
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- 🏏 Cricket and business seem to be the hot topics for SBI lately! Besides a remarkable performance in the equity market, they also approved a fundraising plan.
- 🇮🇳 Speaking of India, Life Insurance Corporation of India (LIC) is giving SBI a run for its money. LIC's market cap skyrocketed this week, leaving SBI's Rs 7,25,036.13 crore in the dust.
- 💰 If you're considering investing, you might want to take a closer look at Bollywood-favorite SBI. With their whopping Rs 19,589.54 crore earnings this week, things are looking pretty promising for them.
