Maruti Suzuki gains after selling over 3 lakh AMT models in India

Maruti Suzuki India rose 1.32% to Rs 8647.50 at 9:19 IST on BSE after the company said it crossed the mark of 3-lakh cumulative sale of cars with the acclaimed auto gear shift technology.

The announcement was made after market hours yesterday, 31 May 2018.

Meanwhile, the S&P BSE Sensex was up 44.08 points, or 0.12% to 35,366.46.

On the BSE, 1,348 shares were traded in the counter so far compared with average daily volumes of 38,000 shares in the past two weeks. The stock had hit a high of Rs 8,630 and a low of Rs 8,590.60 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 7,087.55 on 6 June 2017.

With the auto gear shift (AGS) becoming popular among the customers, Maruti Suzuki aims to achieve the feat of over 2-lakh sales in the current fiscal year. The contribution of cars with AGS variant to the company's total sales has tripled since its introduction in 2014. At present, Maruti Suzuki offers AGS in seven models in its range, including bestsellers like Alto K10, WagonR, Celerio, Swift, IGNIS and Dzire. In May 2018, Vitara Brezza became the latest offering with AGS technology from Maruti Suzuki.

Net profit of Maruti Suzuki India rose 10.03% to Rs 1882.10 crore on 14.38% rise in net sales to Rs 20594.30 crore in Q4 March 2018 over Q4 March 2017.

Maruti Suzuki India is India's biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 March 2018).

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