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Maruti Suzuki all set to become first Indian auto stock to hit Rs 2L cr market-capitalisation mark

Mar 2, 2017, 14:15 IST
On Wednesday, the trade market closed with shares of Maruti Suzuki coming closer to Rs 6,000 mark, making its market capitalisation (m-cap) standing above Rs 1.8 lakh crore. A few thousand crore, or about 11% later, it would achieve the Rs 2,00,000 crore mark, beating every other auto firm in India.
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Also read: Maruti just took 8 spots in the list of 10 best selling passenger vehicles

The nearest competitor that Maruti Suzuki has is Tata Motors, standing at Rs 1.3 lakh crore, about 41% lower. Tata Motors also saw the highest market-cap for an Indian auto firm, when it attained is Rs 1.89 lakh crore in September 2016.

Also read: Tata Motors Q3 profit down by 96%. Here’s why

M&M, on the other hand, stood at Rs 93,002 crore in August last year.

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"Maruti is an outperformer, even though it is an expensive stock. It has seen traction on new launches and sales are on a strong footing. It should be among the biggest beneficiaries of remonetisation. We have a target of Rs 6,500 for the stock by the end of the year," Sanjiv Bhasin, Executive VP- Market & Corporate Affairs, IIFL, told ET.

(Image source: WhatCarBuyer)

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