Maruti overtakes Infosys, ONGC in market cap; stock up 3%
New Delhi: Maruti Suzuki zipped past Infosys and ONGC in market capitalisation (m-cap) as its stock rose by 3% on Friday, adding Rs6,563 crore to the value.
The stock gained 3% to end at Rs7,451 on the BSE. During the day, it went up by 3.25% to Rs7,469—its 52-week high. It was the top gainer on the BSE benchmark Sensex. On NSE, the stock moved up by 2.97% to close at Rs7,464.85.
Following the gains, the company’s m-cap rose by Rs6,562.85 crore to Rs2,25,079.85 crore. With this the company stood at the eighth position in the top-10 m-cap ranking chart, ahead of Infosys and Oil and Natural Gas Corporation (ONGC).
Infosys’ market valuation stood at Rs2,17,899.66 crore, while that of ONGC was Rs 2,17,074.17 crore at end of trade. Also, the m-cap of Maruti alone is more than the combined valuation of auto majors Tata Motors (Rs1,34,896.92 crore) and Mahindra & Mahindra (Rs88,598.83 crore).