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M&M overtakes Tata as most-valued auto firm
Sport utility vehicle major Mahindra & Mahindra on Friday surpassed Tata Motors’ market capitalisation to become India's most valued auto company. Mahindra shares increased 0.27 per cent to close at Rs 719.10 on Friday, compared to the previous day’s close, while Tata Motors shares fell 5.28 per cent to Rs 713.40, on the Bombay Stock Exchange (BSE).
While M&M's market cap stood at Rs 44,150 crore, Tata Motors market cap eroded to Rs 38,402 crore, pushing it to the fourth spot among the auto pack after Bajaj Auto and Hero MotoCorp.
Concerns over Jaguar’s and Land Rover's performance in America and Europe, its two biggest markets, in the wake of continued recessionary trends and a slowdown in demand in the Indian market, spooked investors who dumped the company's stock.
Tata Motors, which continues to be India's biggest company by revenue, saw an erosion of 15.63 per cent in its stock value over the last one week or six trading sessions. M&M stock, during the same period, saw a fall of 1.1 per cent.
India's second-largest two-wheeler maker Bajaj Auto's market cap stood at Rs 41,414 crore, the second biggest in the auto pack, while two-wheeler market leader Hero MotoCorp's market valuation stood at Rs 39,810 crore.
Sport utility vehicle major Mahindra & Mahindra on Friday surpassed Tata Motors’ market capitalisation to become India's most valued auto company. Mahindra shares increased 0.27 per cent to close at Rs 719.10 on Friday, compared to the previous day’s close, while Tata Motors shares fell 5.28 per cent to Rs 713.40, on the Bombay Stock Exchange (BSE).
While M&M's market cap stood at Rs 44,150 crore, Tata Motors market cap eroded to Rs 38,402 crore, pushing it to the fourth spot among the auto pack after Bajaj Auto and Hero MotoCorp.
Concerns over Jaguar’s and Land Rover's performance in America and Europe, its two biggest markets, in the wake of continued recessionary trends and a slowdown in demand in the Indian market, spooked investors who dumped the company's stock.
Tata Motors, which continues to be India's biggest company by revenue, saw an erosion of 15.63 per cent in its stock value over the last one week or six trading sessions. M&M stock, during the same period, saw a fall of 1.1 per cent.
India's second-largest two-wheeler maker Bajaj Auto's market cap stood at Rs 41,414 crore, the second biggest in the auto pack, while two-wheeler market leader Hero MotoCorp's market valuation stood at Rs 39,810 crore.
, it's more about how market works! they dont' give a damn to sales numbers, they will always be like show me the profits baby!
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