M&M becomes 2nd most valuable brand in India, reaches Rs 1-trn market cap

M&M, which thrives on the performance of its tractor division, has seen its share price rally 8 per cent in the last two weeks

The stock price of Mahindra & Mahindra (M&M), the country’s largest tractor maker, hit a new high of Rs 819 on Tuesday, helping the company reach the milestone of Rs 1 trillion in market capitalisation. In doing so, it overtook Tata Motors in valuation and is now the second-most valued automobile maker in the country after Maruti Suzuki.

M&M closed the day with a market cap of Rs 1 trillion, ahead of Tata Motors’ Rs 972 billion, according to the BSE. Tata Motors, which once used to be the country’s most valued automobile player, lost the coveted position to Maruti