India’s largest car manufacturer Maruti Suzuki India Ltd. (MSIL) has entered the top-5 club of most valuable companies. As per the report, stock of the Indo-Japanese carmaker in intraday trade hit Rs 10,000 mark for the first time. It has also been reported that the stock of the car manufacturer is likely to close the year on a high note as it has already been rallied more than 80 per cent up to now.
Maruti Suzuki’s stock hits new record high
The surge in the stock has further strengthened Maruti Suzuki’s position in the market as stock hit Rs 10,000 mark. Maruti Suzuki’s stock has hit the 10, 000 mark for the first time in intraday trade. With the new record hit automaker, Maruti Suzuki has entered the list of companies the stocks of which trade more than Rs 10,000. According to report, In the calendar year 2017, till now MSIL has outperformed the market. The automaker has surged 83 per cent as compared to 27 per cent rise in the S&P BSE (Bombay Stock Exchange) Sensex.
Maruti Suzuki is one of the top 5 most Valuable Companies
With the new record high, Maruti Suzuki has now become fifth most valued stock by market capitalization (m-cap). At near about Rs. 3-lakh crore, Maruti Suzuki is only below Reliance Industries (RIL), TCS (Tata Consultancy Services), HDFC Bank and ITC.
After hitting a new high on the BSE, Maruti Suzuki India has entered into the list of the top-5 most valuable companies by m-cap (market capitalisation).
With market capitalisation of about Rs. 294,641 crore, MSIL now features at 5th rank in the list by replacing FMCG (fast moving consumer goods) company Hindustan Unilever (HUL).
Escalation of Maruti Suzuki from 11th position to 5th position
At the beginning of the CY17 (Calendar Year 2017), Maruti Suzuki India stood at the 11th position. The automaker surpassed ONGC (Oil & Natural Gas Corporation), Infosys, HDFC (Housing Development Finance Corporation), SBI (State Bank of India) and Coal India so far in the calendar year 2017.
It was MSIL’s double-digit sales growth in the previous month due to which the automaker surged 13 per cent. The sale growth also helped the carmaker in overcoming the lean phase post festive season. India’s largest car manufacturer’s sales were largely driven by Swift and Baleno in the hatchback segment, in addition to the newly launched, next-generation Dzire in the compact sedan segment.
Source: Business Standard
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