The Private Sector lender KOTAK MAHINDRA BANK had another feather on its cap. The bank’s market valuation surpassed that of Maruti Suzuki, thus enabling it to enter the band of Top-10 Club in market cap in the country.
- With this Kotak Bank has become the fourth most valued bank in terms of market Capitalization.
- The other three banks who already figure in the list are HDFC Bank, State Bank of India and ICICI Bank.
- At the end of the previous day’s BSE closure, Kotak Mahindra Bank’s market capitalization stood at Rs. 2,22,656.33 crore surpassing that of Auto major company Maruti Suzuki which had a market capitalization figure of Rs. 2,21,486.61 crore.
- The Kotak Bank’s scrips also went up by 0.42% to reach at Rs. 1,167.50 and in the last day’s intraday trade went up to Rs. 1,173 thus a gain of 2% during the day was seen.
- Maruti Suzuki shares, however, fell by 2.02% and ended at Rs. 7,332.05 and its low and high quotes were recorded at Rs. 7,304 and Rs. 7,543 respectively.
Market capitalization refers to the total dollar market value of a company’s outstanding shares. Commonly referred to as “Market cap”. It is calculated by multiplying a company’s shares outstanding by the current market price of one share.