Maruti Suzuki India’s shares hit the Rs 10,000 mark on the BSE on Wednesday and crossed Rs 3 lakh crore in market capitalisation for the first time. The automobile company is the sixth Indian firm to breach this level in market capitalisation.
The share price was at Rs 10,000 briefly before falling again. At 1.32 pm, it was trading at Rs 9,865.20, about 61 points higher than Tuesday’s close. On the National Stock Exchange, the highest price the shares reached on Wednesday was Rs 9,996.40.
The company’s stock has risen over 84% so far in 2017. The surge this month has come on the back of the company’s announcement that it will raise the prices of some car models from January.
Only Reliance Industries, Tata Consultancy Services, HDFC Bank, ITC and Oil and Natural Gas Corporation have crossed the Rs 3-lakh-crore market capitalisation level. Reliance Industries has a market capitalisation of Rs 5.84 lakh crore currently. In October, Reliance had become the first Indian company to touch Rs 6 lakh crore in market capitalisation.