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

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.

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.

"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.

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