Market capitalization of Bank of Baroda surpasses Rs 1 billion, making it the second PSB to reach the milestone
On Monday, Bank of Baroda (BOB) surpasses SBI as the second public sector bank to have a market capitalization of Rs. 1 lakh crore. Bank of Baroda shares reached an intraday high of Rs 194 per share when the markets opened today, reflecting a rise of 3.5% from the morning session of Monday.
As the share price of Bank of Baroda increased from Rs 96 to Rs 194, its stocks became multi-baggers. Bank Nifty reached a fresh high of 44,498 thanks in part to BOB stocks. After Dena Bank and Vijay Bank amalgamated into it in 2019, the price of Bank of Baroda stocks never looked back.
As the shares reached their intraday high, they also came very close to reaching their 52-week high per share of Rs. 197.20. The SBI share price now has a market capitalization of around Rs. 5.07 lakh crore, making it the first bank to ever cross the Rs. 1 lakh crore market capitalization threshold.
Reliance Industries Ltd., which has a market worth of Rs. 17.29 lakh crore, continues to be the most valuable Indian company overall. The top six companies are HDFC Bank, ICICI Bank, Hindustan Unilever Ltd., ITC, Infosys, and Tata Consultancy Services.
In terms of market capitalization, State Bank of India, the biggest bank in India, is ranked seventh among the most valuable companies.
