Maruti Suzuki dips post January sales

The stock dipped 3% to Rs 3,971 after the company reported a 2.6% decline in total sales in January 2016.

Maruti Suzuki India has dipped 3% to Rs 3,971 on the BSE after the country’s largest car-maker reported a 2.6% decline in total sales in January 2016 at 113,606 units, due to lower export sales. The company had sold 116,606 units in the same month in 2015.

Earlier, in the month of March 2015, Maruti Suzuki India had recorded negative growth of 1.6% in monthly sales.

Exports during the month declined 34.6% to 7,223 units as compared to 11,047 units in January 2015. The domestic sales increased 1% during the month to 106,383 units as against 105,559 units in January 2015, Maruti Suzuki India said in a statement.

Sales of passenger cars fell 1.4% to 87,757 units, while utility vehicles sale grew 26% at 8,114 units over the previous year, it added.

At 11:09 AM, the stock was down 2% at Rs 4,010 on the BSE. It touched intra-day high of Rs 4,118 before the announcements of January sales numbers. A combined 921,081 shares changed hands on the counter on the BSE and NSE so far.