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C.R. Sukumar

Hyderabad , March 17

ANDHRA Bank has emerged as a $1-billion company in terms of market capitalisation.

As per the closing price of Andhra Bank scrip on National Stock Exchange on Thursday at Rs 120.45, its market capitalisation works out to Rs 4,818 crore or $1.1 billion.

The other Indian PSBs that have already entered the elite club of $1-billion market capitalisation include State Bank of India with a market cap of $8.76 billion, Punjab National Bank ($2.67 billion), Canara Bank ($2 billion), Union Bank of India ($1.3 billion) and Corporation Bank ($1.23 billion).

The PSB scrips that are still hovering below the $1-billion level include Bank of Maharashtra at $0.35 billion, Syndicate Bank ($ 0.66 billion), Vijaya Bank ($0.68 billion) and Allahabad Bank ($0.73 billion).

Interestingly, the scrip of Andhra Bank on Thursday rose by 2.95 per cent on BSE to close at Rs 120.50 and by 2.82 per cent on NSE at Rs 120.45, even as the Bankex fell by 1.2 per cent.

The Sensex has shed 77 points to close at 6,670 points, while the NSE Nifty lost 27 points to close at 2.099 points on Thursday.

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