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HDFC Bank has higher Market-cap than SBI for now

 

India's second-largest private sector lender HDFC Bank overtook largest bank SBI in terms of market capitalisation on Tuesday. At . 471.80 a share, HDFC Bank's market cap works out to . 1.10 lakh crore — almost a percent higher than SBI's . 1.09-lakh crore.

HDFC Bank's total assets is almost one-sixth of SBI's total assets which stands at over . 12 lakh crore. According to analysts tracking banks, the decline in SBI's share price helped HDFC Bank gain higher m-cap. Also, SBI has been battling with negative sentiments and headwinds in the form of declining net interest margins, fears of higher NPAs and exposure to sectors like power, aviation and infrastructure. SBI has the largest exposure to Kingfisher. The PSU bank has fallen over 9% in a month and about 34% over the past six months. Shares of SBI ended over 1% lower at . 1,729.90 on the BSE on Tuesday.

"HDFC Bank has done better than SBI in many ways. HDFC Bank has better NIMs; it has lent money to cleaner companies and has low exposure to sectors, like power, telecom and infrastructure. HDFC Bank is an expensive stock; it's risk aversion that is prompting investors to buy HDFC Bank at current prices," said a PMS fund manager employed in boutique wealth management firm.
 
At Monday's (14th Nov 2011) closing price, HDFC Bank's m-cap is 1% higher than SBI's
 

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