Maruti Suzuki drops after poor monthly sales

Maruti Suzuki India fell 1.89% to Rs 9,327 at 11:48 IST on BSE after the company said that its total sales fell 0.6% to 1.64 lakh units in July 2018 over July 2017.

The announcement was made during market hours today, 1 August 2018.

Meanwhile, the S&P BSE Sensex was down 65.48 points, or 0.17% to 37,541.10

On the BSE, 27,000 shares were traded in the counter so far compared with average daily volumes of 37,000 shares in the past two weeks. The stock had hit a high of Rs 9,590 and a low of Rs 9,308.55 so far during the day. The stock hit a record high of Rs 10,000 on 20 December 2017. The stock hit a 52-week low of Rs 7,377.75 on 11 August 2017.

Maruti Suzuki India said total domestic sales rose 0.1% to 1.54 lakh units, while total exports dropped 9.9% to 10,219 units in July 2018 over July 2017.

Maruti Suzuki India's net profit rose 26.91% to Rs 1975.30 crore on 27.31% increase in net sales to Rs 21810.70 crore in Q1 June 2018 over Q1 June 2017.

Maruti Suzuki India is India's biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.206% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 June 2018).

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