Sep 13: Posting significant gains on the stock markets, Maruti Suzuki has become the 11th largest auto maker in the world with a market capitalization of $38.49 billion.
The automaker also became the second-best performing auto company among the top 15 stocks in the sector. This has become possible with the stock zoomed to record new highs at the bourses.
In the process, Maruti Suzuki has raced ahead of global automotive majors of the likes of Audi AG, Renault SA, Subaru Corp. and Hyundai Motor Co., which respectively boast market cap of $35.23 billion, $27.31 billion, $26.7 billion and $26.46 billion, said a report.
Over the course of the current year, Maruti Suzuki saw its shares skyrocketing 53.32%, and has only Tesla Inc.’s 70.20% gains ahead of them globally.
At the moment, the Maruti Suzuki stick trades at 32.80 times one-year forward PE (price-to-earnings), going by Bloomberg estimates. Reports added that among Sensex stocks across various sectors, Maruti Suzuki came second-best in term of performance so far this year. The stock has jumped 53.32% for the year-to-date, after steel maker Tata Steel Ltd which has gained 74.67%.