Kotak Mahindra Bank surpasses Maruti Suzuki in market cap to enter top 10 club; becomes country's fourth most valued lender

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 Rs 2,22,656.33 crore, while that of auto major Maruti Suzuki India was at Rs 2,21,486.61 crore.

Representational image. Reuters

Representational image. Reuters

The scrip of Kotak Mahindra Bank settled 0.42 percent higher at Rs 1,167.50. In intra-day trade, it touched a high of Rs 1,173 and a low of Rs 1,153. The stock had gained over 2 percent Thursday.

On the other hand, the stock of Maruti Suzuki fell by 2.02 percent to end at Rs 7,332.05. It had hit a low and a high of Rs 7,304 and Rs 7,543 during the trading session.

With a valuation of Rs 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 Rs 7,06,292.61 crore.

On Thursday, Dutch financial major ING sold 1.27 crore shares in Kotak Mahindra Bank for a little over Rs 1,440 crore through an open market transaction.

Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.

Updated Date: Nov 16, 2018 18:53:18 IST

Also See