Maruti gains as Suzuki plans to set up 3 plants in Gujarat

Maruti Suzuki India rose 1.11% to Rs 1,725.95 at 15:25 IST on BSE after the company said Chief Minister of Gujarat, Anandiben Patel laid the foundation stone for Suzuki Group's Gujarat vehicle manufacturing plant today, 28 January 2015.

The announcement was made during market hours today, 28 January 2015.

Meanwhile, the S&P BSE Sensex was down 6.00 points or 0.02% at 29,563.80.

On BSE, so far 60,231 shares were traded in the counter as against average daily volume of 38,663 shares in the past one quarter.

The stock hit a high of Rs 3,758, also a record high for the stock. The stock hit a low of Rs 3,691.15 so far during the day. The stock had hit a 52-week low of Rs 1,541.25 on 28 January 2014.

The stock had outperformed the market over the past one month till 27 January 2015, rising 10.64% compared with Sensex's 8.55% rise. The scrip had also outperformed the market in past one quarter, jumping 16.25% as against Sensex's 10.53% rise.

The large-cap car manufacturer has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

The Suzuki Group will set up three plants at Hansalpur with a total annual capacity of 7.5 lakh vehicles The first plant is scheduled to start production in mid-2017. It is being set up at an investment of about Rs 3000 crore, and will have an annual capacity of 2.5 lakh units.

The vehicles manufactured at these facilities will be supplied exclusively to Maruti Suzuki India (MSIL) and support MSIL's objective of reaching annual sales of 20 lakh units in the medium term. The campus spread over 640 acres, will also have an integrated suppliers' park.

Maruti Suzuki India's net profit rose 17.8% to Rs 802.16 crore on 15.4% rise in total income to Rs 12704.72 crore in Q3 December 2014 over Q3 December 2013.

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