Maruti Suzuki gains after good November sales

Maruti Suzuki India rose 2.28% to Rs 3,412 at 11:11 IST on BSE after the company said its total sales rose 19.5% to 1.10 lakh units in November 2014 over November 2013.

The announcement was made during trading hours today, 1 December 2014.

Meanwhile, the BSE Sensex was up 57.48 points, or 0.20%, to 28,751.47.

On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 36,311 shares in the past one quarter.

The stock hit a high of Rs 3,415 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 3,337 so far during the day. The stock hit a 52-week low of Rs 1,541.25 on 28 January 2014.

The stock had underperformed the market over the past one month till 28 November 2014, rising 5.89% compared with 6.75% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 19.82% as against Sensex's 7.72% 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 domestic sales rose 17% to 1 lakh units in November 2014 over November 2013. Exports rose 52.7% to 10,123 units in November 2014 over November 2013.

Maruti Suzuki India's net profit rose 28.69% to Rs 862.54 crore on 18.24% growth in total income to Rs 12497.03 crore in Q2 September 2014 over Q2 September 2013. Growth in domestic sales and cost reduction initiatives by the company contributed significantly to bottomline growth during Q2 September 2014.

Japanese parent Suzuki Motor Corporation holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 September 2014).

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