SBI becomes India's most-valued Public Sector Company
On the other hand, in Private Sector, IT major Tata Consultancy Services (TCS) became the most-valued Indian company with a market cap of Rs 454902.85 crore.
The State Bank of India (SBI) on 18 April 2017 became India's most valued Public Sector Company in terms of market valuation. The market cap of SBI stood at Rs 235307.51 crore as on 18 April 2017.
It surpassed state-run energy major Oil & Natural Gas Corporation (ONGC) as its market cap was about Rs 2961.79 crore more than that of ONGC's Rs 232345.72 crore. ONGC once used to be the country's most-valued Public Sector Company in terms of market valuation.
Among the top-10 most valued companies list, SBI is at the fifth position while ONGC is seventh on the list. So far in Financial Year 2017-18, shares of SBI have surged almost 16 per cent while ONGC's shares have fallen by over 4 per cent.
On the other hand, in Private Sector, IT major Tata Consultancy Services (TCS) became the most-valued Indian company with a market cap of Rs 454902.85 crore, followed by Mukesh Ambani-led Reliance Industries Limited (RIL) with Rs 445578.92 crore market cap.
TCS had replaced RIL as the most valued firm more than four years ago itself. However, RIL witnessed a sharp growth in recent past on success of telecom venture Jio.
Broader market Overview
In the broader market, the Sensex ended lower for the fourth straight session. The 30-share index rose by over 267 points in morning trade but later lost momentum. It finally ended to 94.56 points or 0.32 per cent, lower at 29319.10.