SBI crosses Rs 1 trillion market cap

State Bank of India, the country's biggest lender, today became the first public sector bank to touch a market capitalisation of Rs 1,00,000 crore.

"We have crossed this milestone for the first time in about 200 years, while doubling the market cap in my tenure (of about 18 months)," Chairman O P Bhat said.

The company's shares surged to an intra-day high of Rs 1,952 in early afternoon trade, giving it a market cap of about Rs 1,02,700 crore.

"One lakh crore has happened and hopefully, two lakh crore would also happen soon," he added.

Ten companies, including SBI, have a market cap of more than Rs 100,000 crore. The state-run power equipment maker BHEL crossed this milestone in intra-day trade yesterday.