te As Kotak Mahindra Bank becomes bigger than Maruti Suzuki, Anand Mahindra says this for Uday Kotak | Zee Business

As Kotak Mahindra Bank becomes bigger than Maruti Suzuki, Anand Mahindra says this for Uday Kotak

Mahindra recalled how Kotak had started the company out of a single room in Mumbai and went on to create entrepreneurship and creation of wealth in the "RIGHT" way.

As Kotak Mahindra Bank becomes bigger than Maruti Suzuki, Anand Mahindra says this for Uday Kotak
Kotak Mahindra has now also become the fourt mist valued banks in terms of m-cap. Image source: Reuters

Kotak Mahindra Bank's market valuation has gone past Maruti Suzuki. The private lender entered the top 10 club by market capitalisation (m-cap) in the country on Friday. Kotak Mahindra has now also become the fourt mist valued banks in terms of m-cap. The three other banks are HDFC Bank, ICICI Bank and State Bank of India. 

On Friday, the m-cap of Kotak Mahindra stood at Rs 1,22,656.33 crore, while that of Maruti Suzuki was 2,21,486.61 crore. Kotak Mahindra Bank entered the top 10 club by advancing Rs 5,667.87 crore to Rs 2,22,656.33 crore.

Elated by the success of Kotak Mahindra Bank, Mahindra Group chairman couldn't reacting to what he termed as Uday Kotak's "inspiring story".

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Mahindra recalled how Kotak had started the company out of a single room in Mumbai and went on to create entrepreneurship and creation of wealth in the "RIGHT" way.

"I can vividly remember when young Uday Kotak-a freshly minted MBA-started his company out of a single room in downtown Mumbai. What an inspiring story of entrepreneurship & creation of wealth in the RIGHT way. So proud of you Uday!," Mahindra tweeted. 

In the week ending Friday, seven of the 10 most valued Indian companies together added Rs 70,867 crore in market capitalisation. Mukesh Ambani-led Reliance Industries (RIL) topped the chart while also regaining the status of the most valued firm on Dalal Street. It edged past India's largest IT company Tata Consultancy Services (TCS).

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Among other gainers were HDFC Bank, HUL, ICICI Bank, State Bank of India (SBI), HDFC and Kotak Mahindra Bank. Companies like TCS, ITC, and Infosys registered losses in their m-cap.
 

Written By: ZeeBiz WebTeam
Updated: Sun, Nov 18, 2018
05:35 pm
New Delhi, ZeeBiz WebDesk
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