Government-controlled State Bank of India (SBI) rose over 2 per cent on the Bombay Stock Exchange, leaving behind Oil & Natural Gas Corporation (ONGC) to become most valued public sector undertaking (PSU) stock in terms of market capitalization (m-cap).
According to data available with BSE, SBI with m-cap of Rs 239,808 crore surpassed ONGC having m-cap of Rs 236,003 crore at 10:30 AM.
In line with PSU Bank index, shares of country’s largest lender gained as much as 2.33 per cent to hit intra-day high of Rs 296.40 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 294.40 against previous close price of Rs 289.65.
In a similar fashion, stocks of bank were trading 1.74 per cent higher at Rs 294.95 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 29,650.69, up 237.03 points or 0.81 per cent, at 11:53 hours.