New Delhi: Private sector lender Kotak Mahindra Bank’s market valuation surpassed that of Maruti Suzuki to enter the top 10 club by market capitalisation in the country Friday.
It has also become the country’s fourth most valued bank in terms of market capitalisation after HDFC Bank, State Bank of India (SBI) and ICICI Bank.
At the end of trade on the BSE, Kotak Mahindra Bank’s market capitalisation stood at ₹ 2,22,656.33 crore, while that of auto major Maruti Suzuki India was at ₹ 2,21,486.61 crore.
The scrip of Kotak Mahindra Bank settled 0.42% higher at ₹ 1,167.50. In intra-day trade, it touched a high of ₹ 1,173 and a low of ₹ 1,153. The stock had gained over 2% Thursday.
On the other hand, the stock of Maruti Suzuki fell by 2.02% to end at ₹ 7,332.05. It had hit a low and a high of ₹ 7,304 and ₹ 7,543 during the trading session.
With a valuation of ₹ 7,14,668.54 crore, Reliance Industries is the country’s most-valued company in terms of market capitalisation, followed by Tata Consultancy Services at ₹ 7,06,292.61 crore.
On Thursday, Dutch financial major ING sold 1.27 crore shares in Kotak Mahindra Bank for a little over ₹ 1,440 crore through an open market transaction.
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