Maruti Suzuki Hits New High Of Rs. 9000: Stock Moves Past HDFC And SBI In M-cap
So, with this increase in share price, the m-cap of Maruti Suzuki has surpassed SBI and HDFC.
In trade today, the stock of leading auto major Maruti Suzuki India Ltd., for the first time crossed the price of Rs. 9000 registering a 52-week high of Rs. 9119 on both the exchanges.
Strong November sales which saw an increase of close to 14% in comparison to last year figures, upbeat stock markets and corporate earnings have all been the triggers for the scrip which has managed to offset the ill-effects of demonetisation and GST.
In the calendar year 2017, the stock recorded a 71% increase in the market price.
Also, the global brokerage house CLSA has increased its target price to Rs. 10000 for a share and maintained a buy call.
So, with this increase in share price, the m-cap of Maruti Suzuki has surpassed SBI and HDFC.
Closely after reaching a high, the stock pared its gain and was last seen trading lower at Rs. 9088.9 on the BSE.
Goodreturns.in