Maruti Suzuki hits new high post April sales; m-cap crosses Rs 2 lakh crore

The stock up 2.7% at Rs 6,700, up 2.7% after MSIL reported domestic sales of 144,492 units in April

Maruti Suzuki India (MSIL) hit a new high of Rs 6,700, up 2.7% on BSE in early morning trade after the company reported a record monthly domestic sales of 144,492 vehicles in April 2017. The company had sold 117,045 vehicles in April 2016.

All segments of vehicles except vans grew in double digits: the mini segment (Alto and WagonR) grew by 22%; the compact segment (Swift, Celerio, Ignis, Baleno, and Dzire) by 39%; and utility vehicle by 28%.

MSIL, leader in the passenger vehicles, sold a total of 151,215 units in April 2017, 19.5% more than the 126,569 vehicles sold in April 2016, the company said in a press release.

The stock had gained 5% during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17).

A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club.

At 09:20 am, with the market capitalization (m-cap) of Rs 200,554 crore, MSIL stood behind fast moving consumer goods (FMCG) major, Hindustan Unilever, which had m-cap of Rs 202,031 crore, the BSE data showed.

MSIL was trading 1.8% higher at Rs 6,640 against 0.40% rise in the S&P BSE Sensex. A combined 95,012 equity shares exchanged hands on the counter on BSE and NSE.