SBI Life Insurance joins Rs 1-trillion m- cap club, stock hits record high

In a note on Tuesday, Morgan Stanley said SBI Life could be among the three stocks that could be included in the MSCI India index.

SBI Life Insurance Company today entered the coveted Rs 1 trillion market capitalisation (market-cap) club after its share price hit a fresh all-time high on the National Stock Exchange (NSE). The stock of the life insurance company hit a new high of Rs 1,012 on Wednesday in the intra-day deal.

Following the uptick in the counter, SBI Life’s market cap crossed Rs 1-trillion mark or Rs 1,01,200 crore in intra-day trade today.

In the past six trading sessions, the stock has rallied 22 per cent after the company reported healthy earnings in July-September quarter (Q2FY20). In comparison, the S&P BSE