Shares of private lender Kotak Mahindra Bank Ltd beat India’s largest lender State Bank of India (SBI) for the first time to become the second most valued bank in the country. Data from BSE showed that Kotak Mahindra Bank has a market capitalization of Rs 2,22970.40 crore after its shares closed 1.88 percent to record high of Rs 1170.05. Kotak Mahindra Bank shares climbed 2.22 percent to an all-time high of Rs1,174 apiece. So far this year it gained 16 percent.

SBI market capitalization stood at Rs 2,22,043.74 crore. Its shares were trading at Rs248.80 on BSE, down 1 percent from its previous close. HDFC Bank Ltd remained country’s most valuable bank with a market capitalization of Rs 5.04 trillion.

  • Kotak Mahindra Bank Ltd beat India’s largest lender State Bank of India.
  • Kotak Mahindra Bank has a market capitalization of Rs 2,22970.40 crore.
  • SBI market capitalization stood at Rs 2,22,043.74 crore.