M&M overtakes Tata Motors on Dalal Street, becomes India's second most valuable auto maker; Maruti Suzuki remains at the top
A rally in Mahindra & Mahindra (M&M) shares to unprecedented levels on June 14 helped the XUV 300 maker surpass Tata Motors in market value.
A surge in Mahindra & Mahindra (M&M) shares to a record high took the XUV 300 SUV maker's market capitalisation - or market value also known as mcap - to Rs 3.66 lakh crore on June 14, exceeding Tata Motors'. With that, while Maruti Suzuki India retained the top spot in terms of market value among the country's auto makers, Mahindra & Mahindra and Tata Motors stood at second and third positions, respectively.
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Maruti Suzuki remains India's largest auto maker by market value
At the end of Friday's trade, Maruti Suzuki India's market capitalisation stood at Rs 4,04,045 crore, according to provisional exchange data.
M&M takes second spot with Rs 3.64 lakh crore mcap
Mahindra & Mahindra finished the day at a market value of Rs 3,63,980.9 crore, the data showed.
M&M shares hit all-time high, take auto major's mcap to Rs 3.66 lakh crore
During the June 14 session, M&M shares scaled a record high of Rs 2,945 apiece on BSE that took the XUV SUV maker's market capitalisation to Rs 3,66,219.2 crore.
Tata Motors at third position with Rs 3.30 lakh crore market value
Tata Motors' market cap stood at Rs 3,30,204.1 crore at the end of trade on June 14, the data showed.
Bajaj Auto India's 4th largest auto maker by mcap
Bajaj Auto stood at the fourth spot, with a market cap of Rs 2,78,037.9 crore.
Eicher Motors at 5th position, with Rs 1.35 lakh crore mcap
Eicher Motors was at the fifth position, as of June 14, with a market capitalisation of Rs 1,35,144.7 crore.
In January, Tata Motors became India's most valuable auto maker before returning to 2nd position subsequently
In January, Tata Motors surpassed Maruti Suzuki in terms of market value - a first in seven years - and then returned to the second position later on, until M&M took over and secured the second spot in June.