SBI Ranks 7th In Terms Of Market Capitalization SBI ranked seventh in the league table of the companies with highest market capitalization. It was not a part of the 10 mostvalued companies list at the beginning of the year because of bad loans' concerns and decaying sentiment towards public sector bank (PSB) stocks. Despite weakness in the broader market, SBI has moved ahead of HDFC, Coal India, Hindustan Unilever and Sun Pharmaceutical. This year saw a sharp 16 per cent rally in its share price. As a matter of fact, SBI has been one of the best performers in banking stocks among Sensex constituents, which also has HDFC Bank, ICICI Bank and Axis Bank. Since the beginning of the year, the lender has added Rs 28,000 crore in value crossing the Rs 2 lakh crore market cap mark. After the recent demonetization move, shares of some of the private sector banks have weakened. Analysts are of the view that SBI can benefit from the demonetization drive, given the state-owned lender's wide reach. It will help SBI in mobilizing more deposits, helping it lower the cost of capital.
Current mcap SBI
YTD change % 16.3
Rank Current 7
Rank start of the yr 11
As of now, SBI share price is quoting at Rs. 254.85, up by 0.51 per cent. Meanwhile, SBI opened over 12,500 accounts during two-day special camps organized in four states of Punjab, Haryana, Himachal Pradesh and Jammu and Kashmir. The Chandigarh circle of the bank organized camps for the opening of accounts at 405 locations in these states on November 26 and 27. Over 12,500 accounts were opened over the long weekend. Most of the new customers attained comprised workers from the unorganized sector, wage earners, women and students. All the new accounts were seeded with Aadhaar and Mobile numbers.
All the Customer Service Points (CSPs) run by its Banking Correspondents (BCs) were involved in the two-day long account opening campaign. Just to serve target segments better through its BC Channel, the bank has also installed 645 Micro ATMs at CSPs, especially in rural and semi-urban areas, which includes far-flung hilly terrains, it said. The micro ATMs provide instant cash payment. Even customers of other Banks can also be made using the micro ATMs through Rupay and debit cards. Bank plans to double the number of such Micro ATMs during December 2016. Dynamic Levels has identified SBI as one of the top 500 performing stocks for this quarter.
Disclaimer The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research team. Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision. Dynamic Equities Pvt. Ltd - SEBI Investment Advisory Reg. No.: INA300002022
Disclosure Dynamic Equities Pvt. Ltd. is a member of NSE, BSE, MCX SX and a DP with NSDL & CDSL. It is also engaged in Investment Advisory Services and Portfolio Management Services. Dynamic Commodities Pvt. Ltd., associate company, is a member of MCX & NCDEX. We declare that our activities were neither suspended nor we have defaulted with any stock exchange authority with whom we are registered. SEBI, Exchanges and Depositories have conducted the routine inspection and based on their observations have issued advise letters or levied minor penalty on for certain operational deviations. Answers to the Best of our knowledge and belief of Dynamic/ its Associates/ Research Analyst: DYNAMIC/its Associates/ Research Analyst/ his Relative:
Do not have any financial interest / any actual/beneficial ownership in the subject company. Do not have any other material conflict of interest at the time of publication of the research report Have not received any compensation from the subject company in the past twelve months Have not managed or co-managed public offering of securities for the subject company. Have not received any compensation for brokerage services or any products / services or any compensation or other benefits from the subject company, nor engaged in market making activity for the subject company Have not served as an officer, director or employee of the subject company
Article Written by Madhurima Chowdhury