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SBI overtakes TCS to become India's 4th-largest company by m-cap
11 Feb 2026

The State Bank of India (SBI) has overtaken Tata Consultancy Services (TCS) to become the fourth-largest Indian company in terms of market capitalization.

The change comes after a strong rally in SBI's stock following its better-than-expected December-quarter earnings.

At the end of trading on February 10, SBI's market cap was around ₹10.9 lakh crore, surpassing TCS's valuation of about ₹10.53 lakh crore.

SBI's stock has gained 21% so far this year
Market performance

On February 11, SBI shares rose another 3.4% to ₹1,183 while TCS ended the session 2.5% lower at ₹2,909.40.

Year-to-date in 2026, SBI stock has gained 21%, while TCS shares have declined by 8%.

The benchmark Nifty50 is marginally lower by about 1% during this period.

Highest-ever quarterly net profit for SBI
Financial performance

On February 7, SBI announced a net profit after minority interest of ₹21,028.15 crore for the October-December quarter of FY26.

This is the highest-ever quarterly net profit reported by the banking giant and a 24.49% YoY increase from ₹16,891.44 crore in Q3 FY25.

Net interest income rose 9% YoY to ₹45,190 crore on steady loan growth during this period.

Asset quality improves; loan growth guidance raised
Improvement

SBI's asset quality also improved sequentially, with the gross NPA ratio declining to 1.57% in Q3 FY26 from 1.73% in Q2 FY26.

Net NPAs eased to 0.39% from 0.42%.

The bank's management raised its loan growth guidance for FY26 to a range of 13-15%, up from an earlier estimate of 12-14%.