Sun Pharma passes SBI in mkt cap

MUMBAI: Drug major Sun Pharma on Tuesday overtook India’s largest lender State Bank of India by market value, becoming the country’s eighth most-valued company listed on the stock exchanges.

Dilip Shanghvi-led Sun Pharma’s shares closed 1.1% up to `1,039.70 on the BSE. Its market capitalisation stood at `2,15,332.69 crore compared to SBI’s `2,11,130.87 crore.

SBI’s stock closed at `282.80 on the BSE, up 0.4%.

Sun Pharma shares have gained almost 80% in the last one year, while SBI has risen 67%.

SBI is now at the ninth position among the 10 most-valued companies. Tata Consultancy Services is the most-valued 28,595 Sensex intra-day

28,437 28,784 28,435 28,736

(`5,05,528.10 crore) followed by Reliance Industries (`2,77,249.90 crore), ITC (`2,72,273.74 crore), ONGC (`2,68,556.83 crore), HDFC Bank (`2,64,998.27 crore), Infosys (`2,57,481.75 crore), Coal India (`2,28,431.32 crore) and then The Sensex rose after falling for the last three days

It rallied on Tuesday after weak US economic indicators triggered hopes that the Fed will not raise interest rates soon

FDi inflows rose to $4.48 bn in Jan, the highest in 29 months Analysts said markets will consolidate until more clarity comes from the budget session HDFC (`2,10,853.73 crore) at the tenth position.

The Sensex rose 298.67 points, or 1%, to close at 28,736.38, marking its biggest daily gain in over two weeks. The Nifty rose by 90.15 points to close at 8,723.30.