SBI Reaches Major Milestone..!? Rises to 3rd Largest Bank..!?

State bank of india is the third largest lender in the country. Its market capitalization has crossed the $5 trillion mark for the first time, after a 22% gain so far this year. The share price rose 1.3% in the last session to close at Rs 564.85. It has been bullish for the last 5 consecutive sessions. It has seen a 6% rise in this period alone. Banks including hdfc bank Ltd and icici bank Ltd have reached this milestone earlier. indian companies include reliance Industries, Tata Consultancy Services, Infosys, Hindustan Unilever, Life Insurance Corp of india, and HDFC.
SBI is now the seventh most valuable indian company. reliance Industries is one of the most valuable companies in India. It is followed by Tata Consultancy Services, hdfc bank, Infosys, icici bank, and Hindustan Unilever. bank stocks have been rallying in the last few sessions amid increasing demand for credit. The bank Nifty gained 2%. icici bank shares gained 5%, hdfc bank gained 3% and Axis bank gained 7.5%.According to RBI data, indian banks' loan growth has grown to a nine-year high of 15.5%. As of august 26, the outstanding external debt stood at Rs 124.30 trillion. 6 trillion rupees in the April-August period. As the demand for credit has increased, the demand for corporate credit in particular has grown tremendously. sbi plays a major role in this.The requirement is expected to continue in the next financial year as well. sbi can play an important role in this. Retail credit growth has also seen good growth over the past few years, with sbi playing a key role in this.

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SBI major milestone

Sowmiya Sriram

14/09/2022 02:25 PM