Shares of State Bank of India (SBI), the country’s largest bank, have been witnessing sharp moves in the Indian stock market, breaking record highs with each passing session as demand for the PSU stock remains strong following its better-than-expected performance in the December quarter.
Extending its momentum to the second straight session today, February 10, the PSU stock gained nearly 1% to notch up another record high of ₹1,154 apiece, pushing its month-to-date returns to 6.20%. The rally builds on a 10% jump in January, marking its fifth consecutive month of positive gains.
Looking further back, the stock began its upward trajectory around the same period last year and has since surged 67.5%, emerging as one of the top performers among Nifty 50 constituents. The rally has been driven by SBI’s consistently strong quarterly performance, accelerating credit growth, and a steady improvement in asset quality.
The sustained rally has also propelled the SBI’s market capitalization past the ₹10 lakh crore mark for the first time in the previous session, placing it among an elite group of companies.
The state-owned lender has regained its position as the second-most valuable bank by market capitalisation, overtaking ICICI Bank. Among banking stocks, HDFC Bank continues to hold the top spot as the most valuable company, with a market capitalization of ₹14.35 lakh crore, as per BSE data.
Factoring in today’s record high, SBI’s market capitalization has climbed further to ₹10.65 lakh crore, making it the sixth most-valuable company in the Indian stock market.
SBI rally adds nearly ₹40,000 crore to LIC’s investment value
The sustained rally has not only boosted the wealth of retail shareholders—who collectively held a 7% stake in the bank at the end of the December quarter—but has also significantly enhanced LIC’s investment in SBI.
Life Insurance Corporation of India (LIC), the country’s largest insurer and asset manager, owns a 9.23% stake in SBI, making it the single largest institutional shareholder.
A 67.5% rise in SBI’s share price over the past year has added ₹39,648 crore to the value of LIC’s holding, taking the total value of its investment in the bank to around ₹₹98,353 crore.
LIC has remained one of the largest shareholders in SBI for over a decade. According to Trendlyne data, the insurance major has held a stake in the bank since 2015, with its ownership never falling below the 8% mark.
SBI Q3 Results 2026
SBI reported upbeat performance for the December quarter, reporting an all-time high net profit of r₹21,028 crore. ₹Rs 21,028 crore. The net interest income (NII) during the period increased to ₹45,190 crore from ₹41,446 crore in the same quarter a year ago. Domestic net interest margin (NIM) stood at 3.12% in Q3FY26, while whole bank NIM came in at 2.99%.
On the asset quality front, gross non-performing assets (NPAs) declined to 1.57%, while the net NPA ratio fell 14 bps to 0.39%. The bank also raised its FY26 credit growth guidance to 13–15% from 12–14% earlier.
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