Maruti Suzuki hits 52-wk high

Maruti Suzuki (India) is trading higher by 3.3% at Rs 1,384, also its 52-week high on the Bombay Stock Exchange.

The stock has outperformed the market in March by gaining 9% since the announcement of February sales numbers at beginning of the current month, compared to a marginal 0.30% rise in the benchmark index Sensex and 1.3% gain in auto index

The country's largest car maker reported total sales of 118,949 units for February 2012, up from 111,645 units in the same month last year. The company also said the domestic sales last month were the second highest in its history after 110,424 units that were registered in March 2011.

Meanwhile, reports suggest that the India’s car sales shot up in February as customers, fearing higher excise and new taxes on diesel vehicles after the upcoming Union Budget on Friday.

A combined 642,733 shares have changed hands on the counter till noon deals on both the exchanges.