Wow! Kotak Mahindra Bank to beat Infosys, Maruti Suzuki? Check this out
Kotak Mahindra Bank is gradually stepping up on the ladder of top 10 most profitable firms. First it pipped State Bank of India (SBI) to become the second most valuable bank after HDFC Bank, and now it has pushed behind state-owned Oil and Natural Gas Corp (ONGC) to grace the 8th spot among top 10 most valuable firms. Check out the next few firms Kotak may beat soon:
Kotak Mahindra Bank hit its lifetime high of Rs 1287.75 in intraday trade on Wednesday, rallying as much as 6.39 per cent on the BSE.
With a market capitalisation of Rs 2,39,603.55 crore, it has beaten State Bank of India (Rs 2,14,770.20) and ONGC (Rs 2,30,613.24 crore).
Among top 10 most valuable companies, Kotak Mahindra Bank now stands at 8th position. Infosys and Maruti Suzuki hold 7th and 6th spots.
Infosys quoted market capitalisation of Rs 2,61,614.74 crore, and Maruti Suzuki Rs 2,64,407.66 crore by Wednesday's close.
Kotak just needs an additional Rs 24,000 crore market value to beat Infosys and Maruti Suzuki.
Tata Consultancy Services (Rs 6,69,579.51 crore), Reliance Industries (Rs 6,16,406.22 crore) and HDFC Bank (5,11,695.10 crore) continued to be the leaders on Dalal Street in terms of market capitalisation.