State Bank of India on Tuesday lost its spot in the elite club of top-10 most valued domestic firms by market valuation following a decline in its share price.
The bank scrip dropped 5.50 per cent to close at Rs 256 on the BSE. During the day, it tanked 9.32 per cent to Rs 245.65 -- its 52-week low.
Following the slump in its share price, the company's market valuation declined to Rs 2,28,470.06 crore at close of trade on the BSE. With this, the company moved out from the top-10 most valued domestic companies list.
Bajaj Finance is now the 10th most valued firm with a valuation of Rs 2,31,525.18 crore.
SBI is at 11th place in the ranking of top 100 companies by market capitalisation (m-cap).
Reliance Industries Limited is the country's most valued firm with m-cap of Rs 8,27,287.28 crore followed by Tata Consultancy Services with Rs 7,72,878.68 crore.
Others in the top-10 list are HDFC Bank, HUL, HDFC, Infosys, Kotak Mahindra Bank, ITC and ICICI Bank.