Maruti Suzuki drops after announcing Q3 results

Maruti Suzuki India lost 3.04% to Rs 3,969.05 at 9:33 IST on BSE after net profit rose 27.06% to Rs 1019.30 crore on 18.95% growth in total income to Rs 15113.40 crore in Q3 December 2015 over Q3 December 2014.

The result was announced market hours yesterday, 28 January2016.

Meanwhile, the S&P BSE Sensex was up 151.84 points or 0.62% at 24,621.41.

On BSE, so far 26,000 shares were traded in the counter as against average daily volume of 56,206 shares in the past one quarter. The stock hit a high of Rs 4,018.20 and a low of Rs 3,927.20 so far during the day. The stock had hit a 52-week low of Rs 3,362 on 10 February 2015. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had underperformed the market over the past one month till 28 January 2016, sliding 11.69% compared with Sensex's 6.01% fall. The scrip had, however, outperformed the market in past one quarter, declining 8.94% as against Sensex's 9.51% fall.

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

Higher volumes, material cost reduction initiatives and favorable foreign exchange contributed to growth in bottom line on year-on-year basis in Q3 December 2015, Maruti Suzuki India said.

Japanese parent Suzuki Motor Corporation held 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 September 2015).

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