Maruti edges higher on strong production in December

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Maruti Suzuki India rose 0.12% at Rs 3,399.60 at 12:30 IST on BSE after the company said its total production rose 18.21% to 95,400 units in December 2014 over December 2013.

The company made announcement during market hours today, 7 January 2015.

Meanwhile, the BSE Sensex was down 146.57 points, or 0.41%, to 26,877.15.

On BSE, so far 15,554 shares were traded in the counter, compared with an average volume of 32,382 shares in the past one quarter.

The stock hit a high of Rs 3,420.90 and a low of Rs 3,395.05 so far during the day. The stock hit a record high of Rs 3,467.25 on 5 January 2015. The stock hit a 52-week low of Rs 1,541.25 on 28 January 2014.

The stock of car maker had outperformed the market over the past one month till 6 January 2015, falling 0.3% compared with 5.17% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.37% as against Sensex's 1.58% rise.

Maruti Suzuki India had said on 1 January 2015. its total sales rose 20.8% to 1.09 lakh units in December 2014 over December 2013.

The company reportedly yesterday, 6 January 2014, hiked prices of its vehicles by up to Rs 31,600 following the expiry of excise duty concessions extended to the auto sector. The government has reportedly not extended tax breaks to automakers beyond 31 December 2014.

In February last year, the Congress led UPA government in its interim budget had reduced excise duty on automobiles for a limited period until 30 June 2014. Later, the new BJP government which came to power in May last year extended the concessional excise duty on automobiles until 31 December 2014. The excise duty on small cars, scooters, motorcycles and commercial vehicles was cut to 8% from 12%. The same for SUVs (sports utility vehicles) was slashed to 24% from 30%, while on large cars it was reduced to 24% from 27% and mid-sized cars to 20% from 24%.

Maruti Suzuki India's net profit rose 28.7% to Rs 862.54 crore on 18.2% rise in total income to Rs 12497.03 crore in Q2 September 2014 over Q2 September 2013.

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