A major revolution on Dalal Street has emerged as State Bank of India (SBI) has jumped past IT major Tata Consultancy Services (TCS), thus emerging as the fourth most valuable listed entity in the country. This milestone has emerged on February 11, 2026, as SBI’s impressive Q3 numbers triggered a sharp stock price rally.
Market capitalization of the SBI rose to an amount of close to Rs. 10.9 Lakh Crores by some reports reaching a high of rs. 10.94 Lakh Crores, compared to the TCS market capitalization of 10.53 Lakh Crores. This gives an insight into an astonishing difference of 35,000/40,000 Crores. This is a testimony to the enthusiasm that exists among investors about the performance of the
Strong Q3 Performance Fuels the Rally
“SBI posted outstanding numbers for the third quarter results. The bank reported a record net profit of 21,028 crores, which grew at a healthy rate of 24.49% year-on-year. The bank’s robust fee income, better-than-expected asset quality, and controlled provisions were some of the significant factors affecting its third-quarter results.”
The numbers contrast with the sentiment prevailing within the broader IT industry, amid which TCS and other IT majors have contended with weakness in global demand as well as chances of the industry being impacted by AI technology. TCS closed the session with its stocks trading lower by around 2.5% at ₹2,909.40.
SBI shares, on the other hand, maintained their rise. SBI stock has risen by another 3.4% to reach a new all-time high of ₹1,183. During the day, the stock has gone up to highs of ₹1,187. Stock has appreciated by almost 10-11% over the last three days of trading. Until now in 2026, SBI shares are up by 21% compared to the 8% fall logged by TCS shares.
New pecking order in India’s market cap rankings
Equally, the recent jump has sent SBI leaping past TCS and also ahead of ICICI Bank-its closest peer-with a market capitalisation of around ₹10.05-10.07 lakh crore. Here’s how the top five now stack up:
Reliance Industries — ₹19.88 lakh crore (approx.)
HDFC Bank — ₹14.26 lakh crore
Bharti Airtel — ₹11.47 lakh crore
State Bank of India — ₹10.9 lakh crore
Tata Consultancy Services [TCS] — ₹ 10.53 lakh crore This reshuffle marks a broader rotation in investor preference away from global-facing IT services and toward more domestically oriented sectors, such as banking, which is benefitting from India’s resilience in economic growth, improving credit growth, and benign interest rate dynamics.
What This Means Going Forward
While, in the case of SBI, reclaiming the top-four status signals a renewed confidence in India’s largest public sector bank as analysts highlight sustained loan growth, falling credit costs, and strong capital levels as positives. The rally can be seen as having taken note of the improved climate for public sector banks as well.
For TCS and IT overall, we see ongoing pressure in the near term, yet long-term believers may continue to appreciate its strong balance sheet and market leadership.
This market capitalization achievement is more than simply a shakeup of the list; it is also a reminder of the pace at which market sentiment is turning due to quarterly results and sectoral winds. Banking stocks are definitely having their day; IT stocks are in a more subdued period.
