Mahindra & Mahindra (M&M) has become India's second most valuable auto company, surpassing Tata Motors. M&M's market capitalization closed at ₹3,63,980 crore on Friday.
Meanwhile, Tata Motors' market cap closed at ₹3,30,204.07 crore. M&M's shares closed at ₹2927, up by 2.20% during trading. Earlier in the session, the stock had reached a 52-week high of ₹2945.
Mahindra & Mahindra's stock has delivered an impressive return of 112% over the past 12 months. In the year 2024 so far, the stock has provided a return of 72%.
Notably, it has outperformed not only the sectoral index but also the Nifty-50 index during this period. The Nifty Auto index has grown by over 75% in the past year, and it has delivered a return of 38% year-to-date.
In March 2024, Mahindra & Mahindra, known for manufacturing vehicles like Scorpio EN, Bolero, and Thar, reported a net profit of ₹2,038 crore for the fourth quarter.
This marks a significant increase of 32% compared to the ₹1,549 crore profit recorded in the same quarter last year.
When it comes to India's most valuable auto company, it is Maruti Suzuki. Maruti Suzuki India's market capitalization closed at ₹4,03,240.17 crore on the Bombay Stock Exchange (BSE) on Friday.
The company's share price closed at ₹12,825, down by 0.12% or ₹15.70.
