Q3 earnings effect: SBI beats TCS to become country's fourth-largest company by market cap

SBI beats TCS to become country's fourth-largest company by market cap

• SBI overtakes TCS as India's fourth largest company by market capitalization
• SBI posts record Q3 net profit of Rs 21,028 crore, up 24.49 percent YoY
• SBI's asset quality improves, gross NPA ratio drops to 1.57 percent in Q3 FY26

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The shares of State Bank of India (SBI) surged more than 3 percent on February 11 as sentiment remained positive after the public lender’s strong Q3 results. The bank has now overtaken IT major TCS to become the fourth largest Indian company in terms of market capitalization.

At close, SBI’s market capitalisation stood at Rs 10.9 lakh crore, higher than the Rs 10.53 lakh crore market cap reported by Tata Consultancy Services (TCS).

Here’s a list of the top 5 Indian companies in terms of market capitalization:

Reliance Industries (RIL) continues to remain India's most valuable company, with a market capitalisation of Rs 19.88 lakh crore, followed by HDFC Bank and Bharti Airtel.

SBI shares closed 3 percent higher at Rs 1,181.10 apiece on Wednesday. Earlier during the day, the stock had hit a fresh 52-week high of Rs 1,187.50 apiece.

TCS shares meanwhile closed 2.5 percent lower at Rs 2,909 apiece.

SBI Q3 Results:

SBI on February 7 reported a net profit after minority interest of Rs 21,028.15 crore for the October-December quarter of the ongoing financial year 2026. This is the highest-ever quarterly net profit reported by the banking behemoth.

This marks a 24.49 percent year-on-year (YoY) increase from the Rs 16,891.44 crore net profit reported in the same quarter of the previous financial year.

The public lender’s net interest income (NII) meanwhile grew 9 percent YoY to Rs 45,190 crore during the quarter under review from Rs 41,445 crore in the year-ago period, reflecting steady growth in core lending income.

Sequentially, SBI’s asset quality improved, with gross NPA ratio improving to 1.57 percent in Q3 FY26 from 1.73 percent in Q2 FY26. Net NPA ratio meanwhile declined to 0.39 percent in Q3 FY26 from 0.42 percent in Q2 FY26.

Provisions for the quarter stood at Rs 4,506 crore, lower than Rs 5,400 crore in the previous quarter and sharply down from Rs 911 crore a year earlier, indicating easing credit costs.

The bank's management also raised SBI's loan growth guidance for FY26 to 13–15 percent, from the earlier 12–14 percent.

Follow all LIVE updates on Q3 results here.