Hero MotoCorp overtakes Bajaj Auto on the BSE

In terms of market capitalisation, Hero MotoCorp has overtaken Bajaj Auto on the BSE. Hero now becomes second-most valued automobile company on the BSE after Eicher Motors, whose market capitalisation stood at Rs 84,318.31 crore as per the closing price of Rs 30,973.7 per share on Wednesday.
 
Bajaj Auto’s market capitalisation stood at Rs 79,487.67 crores as per the closing price of Rs 2,746.95 per share in the previous trading session. It was trading lower by 0.42% as of 1031 hours at Rs 2,739.05 per share while Hero MotoCorp was trading at Rs 4,012 per share, up by 0.3% on the BSE. As per the last traded price of the stocks on the BSE, the market capitalisation of Hero MotoCorp stands at Rs 80,118.03 crore, higher by Rs 858 crores as compared to the market capitalisation of Bajaj Auto that stands at Rs 79,259.07 crores.
 
Other automobile stocks have been trading in the negative territory as automotive companies expect a fall in demand after the Union Cabinet’s approval of an ordinance that will allow the cess on luxury cars and sports utility vehicles to be raised to as much as 25%. Meanwhile, Nifty was trading at 9,867.8, down by 16 points while Sensex was trading at 31,582, down by 64 points.