Maruti Suzuki shares traded 0.16 per cent greater at Rs 6,650.
Shares of the nation’s largest automotive maker Maruti Suzuki have been buying and selling marginally greater forward of March quarter earnings. Maruti Suzuki shares rose 0.2 per cent to Rs 6,652 forward of March quarter earnings. The inventory rose as a lot as 0.66 per cent to hit an intraday excessive of Rs 6,684.95. Maruti Suzuki shares witnessed decrease than ordinary buying and selling volumes as 19,000 shares modified palms on the BSE in contrast with a mean of 56,000 shares traded each day previously two weeks.
Maruti Suzuki hiked costs on chosen fashions from April 16 as a consequence of a rise in numerous enter prices. According to a regulatory submitting by the corporate to inventory exchanges, the weighted common worth enhance in ex-showroom costs (Delhi) throughout chosen fashions is 1.6 per cent. This was the second worth hike on automobiles by the corporate this month, and the third hike since February.
In quarter ended December 2020, Maruti Suzuki bought a complete of 495,897 autos throughout the third quarter – up 13.4 per cent in contrast with the year-ago interval.
The automaker’s web revenue grew 24 per cent for the quarter ended December 31, on the again of robust gross sales. Net revenue for Maruti rose to Rs 1,941 crore as gross sales grew Rs 22,367 crore – a rise of 13.2 per cent in contrast with the identical interval earlier 12 months.
“These results have to be viewed in the context that in the previous year FY 2019-20, sales volume declined by 16 per cent for the company and about 18 per cent for the industry,” Maruti mentioned in a press release.
As of 12:36 pm, Maruti Suzuki shares traded 0.16 per cent greater at Rs 6,650, outperforming the Sensex which was up 0.84 per cent.
