A better-than-expected performance in the September quarter propelled the State Bank of India (SBI) past the $100 billion market capitalisation milestone on Thursday. Robust credit growth, driven by strong retail spending during the festive season, enabled the country’s largest lender by assets to outperform Street estimates.

The milestone coincides with SBI surpassing the ₹100 trillion total business mark, comprising advances of ₹44.20 lakh crore and deposits of ₹55.92 lakh crore as of September 2025.

In market-cap rankings, Reliance Industries leads with a valuation of $228 billion, followed by HDFC Bank at $170 billion. Bharti Airtel, Tata Consultancy Services (TCS), and ICICI Bank are the other corporates valued above $100 billion.

Notably, three of the six companies in this elite

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