Bajaj Auto hits record high; market-cap crosses Rs 90,000 crore

Bajaj Auto hit a record high of Rs 3,129, up 3.5% on BSE in intra-day trade to regain its status as the country’s most valued two-wheeler company in terms of market capitalisation (market-cap).

The stock surpassed its previous high of Rs 3,122 touched on September 9, 2016 in intra-day trade.

The market-cap of Bajaj Auto crossed Rs 90,000 crore mark today, after a sharp 7% rally in the last two trading sessions.

With a market-cap of Rs 90,225 crore, Bajaj Auto now stands ahead of Eicher Motors, maker of Royal Enfield motorcycles, which quoted market-cap of Rs 88,514 crore, at 11:54 AM, the BSE data showed. On July 31, 2017, Eicher Motors had surpassed the Bajaj Auto to become the most valued two-wheeler company in terms of market-cap.

Thus far in the September month, Bajaj Auto has outperformed the market by gaining 11% after the company reported 2.98% increase in total sales in the month of August, due to higher export sales. On comparison, Eicher Motors was up 3.5%, while the S&P BSE Sensex gained 2.4% during the period.

GET LIVE UPDATES ON MARKET