Maruti Suzuki gains after launching Celerio CNG variant

Maruti Suzuki India rose 1.22% to Rs 2,414.05 at 14:42 IST on BSE after the company launched a CNG variant of its latest compact car Celerio.

The company made the announcement during trading hours today, 26 May 2014.

Meanwhile, the BSE Sensex was down 123.79 points, or 0.50%, to 24,569.56.

On BSE, so far 74,000 shares were traded in the counter, compared with an average volume of 69,004 shares in the past one quarter.

The stock hit a high of Rs 2,505.30 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 2,355.30 so far during the day. The stock hit a 52-week low of Rs 1,217 on 28 August 2013.

The stock had outperformed the market over the past one month till 23 May 2014, rising 20.28% compared with 7.94% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 42.41% as against Sensex's 19.29% rise.

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

Buoyed by the success of Celerio, Maruti Suzuki India introduced Celerio Green, the CNG powered Celerio today, 26 May 2014. Priced at Rs 4.68 Lakh (Ex-showroom, Delhi), the Celerio Greenis available on the VXitrim (Manual Transmission).

Powered by the factory fitted iGPI technology (intelligent Gas Port Injection) the Bi-fuel Celerio Green delivers best-in-class Fuel Efficiency of 31.79 km/kg in CNG mode.

Presenting the Celerio Green,Mr Manohar Bhat, Vice President (Marketing) said, "Brand Celerio has received overwhelming response from the market. The idea of introducing a bi-fuel CNG variant was to strengthen the brand and offer more fuel choices to the customer. We are confident that factory fitted iGPI technology on the Celerio Greenwill bring all the benefits to customers such as smooth drive and hassle-free maintenance and help us in expanding the Celerio brand."

With Ceierio Green, Maruti Suzuki has strengthened its CNG portfolio and technology on six models, Alto 800, Wagon R, Ertiga, SX4 and Eeco.

Maruti had Suzuki launched Celerio with the revolutionary Auto Gear Shift technology during Auto Expo 2014.

Last week, a foreign brokerage put an aggressive three-year target of Rs 4,500 on the Maruti Suzuki India stock. The foreign brokerage said that the Maruti Suzuki India stock price could double in three years in a bull scenario in which personal vehicle industry volume grows at a compounded annual growth rate of 20% due to pent-up demand should the economic growth pick up.

Maruti Suzuki India's net profit fell 35.5% to Rs 800.05 crore on 9.5% decline in net sales to Rs 11818.13 crore in Q4 March 2014 over Q4 March 2013.

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

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