Mahindra & Mahindra joins Rs 1 lakh cr market-cap club; share price hits record high

New Delhi: Mahindra & Mahindra Ltd on Tuesday entered the coveted Rs 1 trillion market capitalisation club, after its share price hit a fresh 52-week high on the BSE.

Mahindra & Mahindra joins Rs 1 lakh cr market-cap club; share price hits record high. Reuters image.

Stock of the company on Tuesday opened on a bullish note at Rs 815, then gained further ground and touched its all time high level of Rs 819.10, up 2.23 percent over its previous closing price.

Following the uptick in the counter, the company's market capitalisation (m-cap) jumped to Rs 1,01,829.91 crore, higher by Rs 2,225.32 crore, from Rs 99,604.59 crore yesterday.

A similar movement was seen on the NSE, where the stock opened at Rs 816, then jumped 2.16 percent to Rs 818.80, its 52-week high level in morning trade.

Following the jump in its m-cap, M&M has joined the ranks of Ultra Tech Cement, Power Grid Corporation, and IndusInd Bank.