Maruti Suzuki gains after good January sales

Maruti Suzuki India rose 1.39% to Rs 3,696 at 11:03 IST on BSE after the company said its total sales rose 13.9% to 1.16 lakh units in January 2015 over January 2014.

The announcement was made during market hours today, 2 February 2015.

Meanwhile, the BSE Sensex was down 100.73 points, or 0.35%, to 29,082.22.

On BSE, so far 19,000 shares were traded in the counter, compared with an average volume of 37,696 shares in the past one quarter.

The stock hit a high of Rs 3,725 and a low of Rs 3,627.10 so far during the day. The stock hit a record high of Rs 3,758 on 28 January 2015. The stock hit a 52-week low of Rs 1,551 on 4 March 2014.

The stock had outperformed the market over the past one month till 30 January 2015, rising 8.84% compared with 6.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.43% as against Sensex's 6.72% rise.

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

Maruti Suzuki India's total domestic sales rose 9.3% to 1.05 lakh units in January 2015 over January 2014. Exports surged 88.9% to 11,047 units in January 2015 over January 2014.

Meanwhile, Maruti Suzuki India announced last week that the Chief Minister of Gujarat, Anandiben Patel, laid the foundation stone for Suzuki group's Gujarat vehicle manufacturing plant in Hansalpur near Ahmedabad on 28 January 2015. The Suzuki Group will set up three plants at Hansalpur with a total annual capacity of 7.50 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 2.50 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 two million units in the medium term.

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. The Q3 results was announced on 27 January 2015.

Maruti Suzuki India said that higher volumes, material cost reduction initiatives and favourable foreign exchange contributed to bottom line during the quarter.

Japanese parent Suzuki Motor Corporation holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 December 2014).

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