TVS Motor hits Rs 1 lakh crore market cap; Sixth auto firm to reach the milestone

Maruti Suzuki leads as the most valued Indian auto firm with a market capitalisation of Rs 3.6 lakh crore.

By  Storyboard18| Feb 16, 2024 6:44 PM
Urban sales also outpaced rural on a YoY basis, growing by 4.54% compared to 3.85%. Dealers cite new model launches, marriage season demand and improved financing as key growth drivers. However, concerns about rising interest rates, rural liquidity challenges and market uncertainty still linger. (Image source: Moneycontrol)

TVS Motor Company achieved a significant milestone on February 16, emerging as the sixth automotive firm to attain a market capitalisation of Rs 1 lakh crore. This achievement follows a remarkable 60% surge in the company's share price over the past six months.

The rally in TVS Motor's shares has not only propelled the Chennai-based company into an exclusive league but has also elevated its standing among global peers, CNBC-TV18 reports. In October of the previous year, the two-wheeler manufacturer surpassed the market valuation of the Japanese giant Yamaha Motor Co.

While Maruti Suzuki leads as the most valued Indian auto firm with a market capitalisation of Rs 3.6 lakh crore, Tata Motors closely follows with a valuation of Rs 3.4 lakh crore. Other major players in the automotive industry, such as Bajaj Auto and Mahindra & Mahindra, hold valuations around 2.3 lakh crore each. Eicher Motors commands a slightly over Rs 1 lakh crore in valuation.

Presently, only 78 companies boast a market capitalisation of at least Rs 1 lakh crore. TVS Motor holds a position above Vedanta and Divi's Laboratories but is positioned below Macrotech Developers and Dr. Reddy's Laboratories in market cap ranks.

First Published onFeb 16, 2024 6:44 PM

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