Kotak Mahindra Bank s market capitalisation hits Rs 4 lakh crore mark for first time
Share of Kotak Mahindra Bank rose 1.3% to Rs 2,026.55, its all-time high against its previous close of Rs 2,000 on BSE
BusinessToday.In | December 30, 2020 | Updated 15:58 IST
The surge took the market cap of the private sector lender past the Rs 4 lakh crore mark.
Kotak Mahindra Bank on Wednesday became the second lender after HDFC Bank to cross the market capitalisation of Rs 4 lakh crore. Share of Kotak Mahindra Bank rose 1.3% to Rs 2,026.55, its all-time high against its previous close of Rs 2,000 on BSE. The surge took the market cap of the private sector lender past the Rs 4 lakh crore mark.
What began as a yarn trading business has emerged as the biggest wealth creator over the last 25 years, growing along the way to enter sectors ranging from oil to telecommunications and retail.
Reliance Industries accounted for Rs 6.3 trillion in wealth created since 1995, according to Motilal Oswal Financial Services’ annual wealth creation study, the 25th edition of which was released on Tuesday. The closest rival was Hindustan Unilever which was at Rs 4.9 trillion. Much of the gains came in the last five years. The study said that it added Rs 4.4 trillion in wealth between 2015 and 2020.
Companies like Infosys and Bajaj Finance also figured the list of fastest and biggest wealth creators.