Private sector lender Kotak Mahindra Bank on Monday surpassed state-run State Bank of India (SBI) in terms of market capitalisation.
At the start of the year, SBI’s market value was 44 per cent more than that of Kotak Mahindra Bank. Since then, shares of SBI have corrected 19 per cent, while that of Kotak Mahindra Bank have risen 16 per cent.
On Monday, Kotak Mahindra Bank was valued at Rs2.23 trillion, while SBI’s market value was Rs 2.22 trillion. Kotak Mahindra Bank also, for the first, time has become the second-most valued bank in the country after HDFC Bank, which commands a market capitalisation of Rs 5.03 trillion.