SBI Surges Past TCS to Become India's Fourth-Largest Firm After Strong Q3 Earnings

• State Bank of India (SBI) has surpassed Tata Consultancy Services (TCS) in market capitalization, becoming India’s fourth-largest company.
• The rally followed better-than-expected December quarter earnings, adding over ₹1 lakh crore to SBI's market capitalization.
• SBI now commands a market capitalization of ₹10.94 lakh crore, exceeding TCS by ₹40,000 crore and ICICI Bank by nearly ₹90,000 crore.
• SBI shares rose 3.5% on Wednesday, bringing its week-to-date gain to 11%, while TCS shares have declined 8% this year.
• SBI reported a net profit of ₹21,028 crore and a 9.04% YoY increase in Net Interest Income (NII) to ₹45,190 crore for the December quarter.