Maruti Suzuki drops after weak November sales

Maruti Suzuki India lost 0.51% to Rs 1668.80 at 11:08 IST on BSE after the company said its total sales declined 10.7% to 92,140 units in November 2013 over November 2012.

The sales numbers were announced during trading hours today, 2 December 2013.

Meanwhile, the S&P BSE Sensex was up 141.38 points or 0.68% at 20,933.31.

On BSE, 17,000 shares were traded in the counter as against average daily volume of 74,424 shares in the past one quarter.

The stock hit a high of Rs 1,682 and a low of Rs 1,661.10 so far during the day.

The stock had outperformed the market over the past one month till 29 November 2013, rising 2.47% compared with the Sensex's 0.65% fall. The scrip had also outperformed the market in past one quarter, surging 33.8% as against Sensex's 12.99% rise.

Maruti Suzuki India's domestic sales dropped 5.9% to 85,510 units in November 2013 over November 2012. Export sales declined 46.2% to 6,630 units in November 2013 over November 2012.

Maruti Suzuki India's net profit jumped 194.7% to Rs 670.23 crore on 26.5% growth in net sales to Rs 10211.83 crore in Q2 September 2013 over Q2 September 2012.

Japanese parent Suzuki Motor Corporation holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 September 2013).

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