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Maruti Suzuki hits new high; surpasses SBI, HDFC in market-cap ranking

The stock is the fourth best performing stock among the S&P BSE Sensex, rallies 71% so far in CY17

SI Reporter  |  Mumbai 

Maruti Suzuki
Maruti Suzuki

hit a new high of Rs 9,120 on the BSE in intra-day delas on Friday, surpassing the state-owned banking giant State Bank of India (SBI) in market capitalisation (market-cap) ranking. On Thursday, had surpassed the India's largest mortgage lender and non-banking finance company Housing Development Finance Corporation (HDFC). with market-cap of Rs 273,958 crore came in at number sixth position in overall ranking ahead of which had market-cap of Rs 272,902 crore at 10:49 am; the BSE data showed. had market-cap of Rs 267,242 crore. was at number 11th position in overall market-cap ranking at beginning of the current calendar year 2017 (CY17). It surpassed Infosys, Oil and Natural Gas Corporation (ONGC) and thus far in CY17. The stock of surged 7% in past two trading sessions after the company reported 8.04% rise in its production to 1,55,568 units in November 2017, as compared to 1,43,989 units in November 2016.

It is the fourth best performing stock among the S&P BSE Sensex, rallies 71% so far in CY17. The brokerage firm overweight on the (MSIL) with 12 month price target of Rs 9,350 per share. “MSIL's revenue growth, we think, will remain exciting over FY18 as positive model mix flows through in both volumes and improved pricing. EBIT margins, however, may moderate from the current high levels though will likely remain above through cycle levels. We also think growth will return in the industry in FY18 and MSIL in our view will be able to hold onto its market share,” J P Morgan said in recent report.

Price on BSE in Rs
Company 30/12/2016 08/12/2017 % chg
Tata Steel 391.10 696.80 78.2
Bharti Airtel 305.35 527.30 72.7
Reliance Inds. 540.05 926.85 71.6
Maruti Suzuki 5323.00 9085.90 70.7
Hindustan Unilever 826.30 1306.05 58.1
Latest price as on 08/12/2017 at 11:05 AM
Year to date top 5 gainers from S&P BSE Sensex

First Published: Fri, December 08 2017. 11:13 IST