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 most-valued 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	YTD change %	Rank	Rank
			Current	start of the yr
SBI	202,570	16.3	7	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.