Kotak Mahindra Bank surpasses Maruti Suzuki in market cap to enter top 10 club

Private sector lender Kotak Mahindra Bank's market valuation surpassed that of Maruti Suzuki to enter the top 10 club by market capitalisation in the country Friday.

It has also become the country's fourth most valued bank in terms of market capitalisation after HDFC Bank, State Bank of India (SBI) and ICICI Bank.

At the end of trade on the BSE, Kotak Mahindra Bank's market capitalisation stood at Rs 2,22,656.33 crore, while that of auto major Maruti Suzuki India was at Rs 2,21,486.61 crore.

The scrip of Kotak Mahindra Bank settled 0.42 per cent higher at Rs 1,167.50. In intra-day trade, it touched a high of Rs 1,173 and a low of Rs 1,153. The stock had gained over 2 per cent Thursday.

On the other hand, the stock of Maruti Suzuki fell by 2.02 per cent to end at Rs 7,332.05. It had hit a low and a high of Rs 7,304 and Rs 7,543 during the trading session.

With a valuation of Rs 7,14,668.54 crore, Reliance Industries is the country's most-valued company in terms of market capitalisation, followed by Tata Consultancy Services at Rs 7,06,292.61 crore.

On Thursday, Dutch financial major ING sold 1.27 crore shares in Kotak Mahindra Bank for a little over Rs 1,440 crore through an open market transaction.