SBI becomes 5th most valuable firm; surpasses Infosys

Public sector lender State Bank of India (SBI) has surpassed IT major Infosys to become the country's fifth most valued firm by market valuation on Wednesday.

The scrip of the state-owned company gained 1.51 per cent to close at Rs 771.55 apiece on the BSE.

During the intra-day trade, shares of SBI hit its 52-week high of Rs 777.50 per piece.

At the end of trading session of Wednesday, the market capitalisation of SBI stood at Rs 6,88,578.43 crore, which is Rs 1,228.48 crore more than Infosys' Rs 6,87,349.95 crore valuation.

Accordingly, SBI became the fifth most valued company on the BSE.

In the ranking of top 10 most valued firms, Reliance Industries continued to rule the chart followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, SBI, Infosys, Life Insurance Corporation of India, Bharti Airtel, Hindustan Unilever and ITC.