Maruti Suzuki up 5% post February sales

In February, the stock had underperformed the market, fallen 21% as compared to 7.5% decline in Nifty 50 index.

Maruti Suzuki India has moved higher by 5% to Rs 3,410 on the National Stock Exchange (NSE) after the company reported a marginal 0.9% year on year (YoY) drop in total sales at 117,451 units for the month of February 2016. It had sold 118,551 units in the same month last year.

The company had sold a total 113,606 units in January 2016.

“The domestic sales was marginally up with total 108,115 vehicles sold in February against 107,892 units in the corresponding month of previous year”, Maruti Suzuki India said in a statement.

During the month, the reservation agitation had disrupted component supplies, causing a temporary suspension of production by the company.

Total production loss due to this was over 10,000 units. Despite that, the company was able to achieve marginal growth in domestic sales, it added.

The stock had underperformed the market, fallen 21% in February as compared to 7.5% decline in the Nifty 50 index.

At 11:21 AM, the stock was up 4.7% at Rs 3,389 on the NSE. A combined 920,503 shares changed hands on the counter on the NSE and BSE so far.