In a major development in the stock market proceedings on Friday, Private sector lender Kotak Mahindra Bank’s market valuation (M-Cap) surpassed that of Maruti Suzuki India Ltd to enter the top 10 club.
Kotak Mahindra has also become the country’s 4th most valued bank in terms of market valuation after HDFC Bank, SBI and ICICI Bank.
At the closing hours on the BSE, Kotak Mahindra Bank’s M-cap reflected at Rs 222,656.33 cr, whereas that of Maruti Suzuki India M-cap was at Rs 221,486.61 cr.
Share price of Kotak Mahindra Bank quoted at Rs 1,167.50 higher by 0.42% on Friday. On the flip side, the stock of Maruti Suzuki skid by 2.02% to settle at Rs 7,332.05 on BSE whose benchmark index Sensex settled 56% at 35457.16.
It is also worthwhile to state that Reliance Industries Limited surpassed Tata Consultancy Services (TCS) again to bag the most valued firm title in terms of market capitalization, in Friday’s trade.