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State Bank of India (SBI), the country's largest public sector bank, has reached a significant milestone, joining the prestigious group of stocks with a market capitalisation of Rs 8 trillion. On Monday, SBI's market cap crossed this benchmark for the first time, following a surge of over 9 per cent in its share price, which hit a new high of Rs 912 on the National Stock Exchange (NSE) during intraday trading.

As of the latest trading update, SBI shares were priced at Rs 908.90, marking a 9.46 per cent increase from the previous day's close.

According to the BSE analytics, the shares of SBI have given massive returns of 54.89 per cent in the last 1 year and 156.27 per cent in the last 5 years.

The 52 week high and low of the share is Rs 912 and Rs 543.20 respectively.

State Bank of India (SBI) announced a standalone net profit of Rs 20,698 crore for the quarter ending 31 March 2024, reflecting a 24% year-on-year increase from Rs 16,694 crore in the same period last year. This profit figure surpasses the market expectation of Rs 16,695 crore.

Additionally, the SBI Board has recommended a dividend of Rs 13.70 per share. The record date to determine eligible shareholders for this dividend is set for Wednesday, 22 May 2024, with the dividend payment date scheduled for 5 June 2024.

The Rs 8 Trillion Club now includes Reliance Industries, Tata Consultancy Services, HDFC Bank, Bharti Airtel, Infosys, and ICICI Bank, all of which have previously attained this notable milestone.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)