SBI: Record-High Performance of Public Sector Undertaking Stocks

It is well-known that Public Sector Undertaking (PSU) stocks have been largely overlooked for some time, particularly in relation to the State Bank of India (SBI).

SBI Market Capitalization

Indian stock market indices are reaching unprecedented heights. Exit polls have strongly favoured the ruling NDA government, propelling the indices to soar. As of the time of writing, the Bombay Stock Exchange (BSE) Sensex index has surged by over 2,350 points, standing at an impressive 76,300 points. Remarkably, it saw an intraday increase of over 2,700 points. Similarly, the National Stock Exchange (NSE) Nifty index is trading at 23,230, reflecting a gain of more than 700 points. Public sector stocks, often referred to as “Modi stocks,” are notably performing well.

SBI, the nation’s largest state-owned bank, is trading at an all-time high today. At the time of writing, it has gained over 9%, currently standing at ₹905.65. It hit a 10% upper circuit intraday, reaching a lifetime high of ₹912. This remarkable performance indicates substantial returns for those who have invested in SBI stock.

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Market Value and Milestones

SBI’s market capitalisation currently stands at ₹8.09 lakh crore, making it the seventh Indian-listed company to reach this milestone. Previously, companies like Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, Infosys, and ICICI Bank had crossed the ₹8 lakh crore mark. Now, SBI joins this prestigious list.

This surge marks the first time since September 2021 that SBI’s stock has seen such a significant percentage increase in a single day. SBI shares have risen by over 41% this year. Over the past few days, the stock has been on an upward trajectory, increasing by 7.87% in the last five days and recovering over 8% in a month. Over six months, the stock has surged by 52%, transforming an investment of ₹1 lakh to ₹1.50 lakh in this period. Within a year, it has increased by 55%, and over five years, the stock has gained a maximum of 165%. The stock’s 52-week high is ₹912, while the minimum value is ₹543.20.

In conclusion, the State Bank of India is experiencing unprecedented growth, offering significant returns for investors and marking its place among the top-performing Indian companies.

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