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ICICI Bank overtakes SBI in market cap, Adani Green at 8th spot in big boys club

By Asit Manohar
HDFC Bank continues to remain most valuable Indian bank with a market cap of ₹7,47,991.29 crore

Meanwhile, Adani Green Energy's market cap has slipped from 7th to 8th spot in the list of India's top 10 most valued listed companies. The market value of the Adani group stock nosedived last one week after the sell-off trigger in the stock. Last week, Adani Green Energy market cap had piped SBI's market cap and grabbed 7th spot in the big boys club but after the recent sell-off in Adani stocks, SBI has regained 7th spot in most valuable Indian company's list.

ICICI Bank had first overtook SBI's market cap in 2013. However, this couldn't last long and ICICI Bank's market cap came below SBI's market valuation after few sessions. Later on in 2016 and in March 2022, SBI's market cap once again came below the private lender's market value. But, this time, the gap in market value of the two leading Indian banks look bigger as ICICI Bank is on course to hit 5 lakh crore market cap while SBI market cap is descending towards 4 lakh crore market value.

Highlighting the possible reason for ICICI Bank market cap extending its lead over the largest Indian commercial bank, Ruchit Jain, Lead Research at 5paisa.com said, "The Bank Nifty (especially private sector banking stocks) has shown relative outperformance to Nifty since last couple of sessions."

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Dive Deeper:
Adani Green market cap is now more than State Bank of India (SBI)
Adani Green share price rally in last six months has helped Adani group company to surpass market valuations of ITC,…
Investors get poorer by over ₹28.85 lakh cr on D-Street in a month. Is there a breather soon?
In a month, the BSE market cap has plunged by ₹28,85,190.48 crore. On April 11th, the market cap stood at…
Adani Power follows Adani Wilmar, market cap dips below ₹1 lakh crore
During the recent rally in Adani group stocks, majority of the FII's investments have gone to Adani shares that has…
Investors poorer by nearly ₹18.75 lakh cr in 5 trading sessions. What's next
BSE market cap stands at ₹2,40,90,199.39 crore after today's closing price of Sensex. This has declined by ₹18,74,689.98 crore from…
One subscription that gives you access to news from hundreds of sites
Sensex falls again, extends losses to 4,300 points so far this month
Stock market: Nifty 50 ended the week sharply negative and is now trading around a strong support level of 15,700:…
Sensex crashes 1,158 points; Nifty ends at 15,808: Top reasons behind today's fall
NEW DELHI: Equity indices plunged for the 5th straight session on Thursday with the benchmark BSE sensex crashing over 1,000…
Get all your news in one place