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M&M pips Tata Motors to become 2nd most valuable auto company in India
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Tata Motors.
M&M's market capitalisation surged to Rs 3,65,193 crore compared to Tata Motors' market cap of Rs 3,29,041 crore. The stock managed to surpass Tata Motors as it witnessed a 3% surge in price, reaching a fresh 52-week high of Rs 2,946.
The multibagger counter witnessed a strong rally over the last 12 months, rising by 112%. So far in 2024, its return stands at an impressive 72%, outperforming not only its sectoral index but also the broader Nifty50.
The Nifty auto index has surged by over 75% in the last 1-year and gained 38% on a year-to-date basis.
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