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.