Maruti Suzuki falls on weak sales in March

The stock was down 2% at Rs 3,622, falling 4% from its intra-day high of Rs 3,758 on the National Stock Exchange.

Shares of Maruti Suzuki India were trading lower by 2% at Rs 3,622, falling 4% from its intra-day high on the National Stock Exchange (NSE), after reporting 1.6% year-on-year fall in total sales at 111,555 units in March 2015, due to lower sales in the compact segment. The company had sold a total of 113,350 units in March 2014.

The category-wise sales of compact segment (Swift, Ritz) fell 12.5% to 38,710 units in March as against 44,251 units in the same month last year, Maruti Suzuki India said in a statement.

The sales of mid-size segment however, witnessed sharp jump of 934.3% to 4,251 units in March 2015 over March 2014 on account of huge demand for Ciaz car model.

Meanwhile, Maruti Suzuki said the company’s total sales in 2014-15 of 1,292,415 units, was the highest annual sales ever by the company. The previous high was in 2010-11, when the company had sold 1,271,005 units.

The stock hit a high of Rs 3,758 and low of Rs 3,600 on the NSE. The trading volumes on the counter almost doubled, with a combined 524,332 shares changing hands on the NSE and BSE till 1232 hours.