Maruti Suzuki gains on price hike buzz

Maruti Suzuki India rose 1.96% to Rs 1,731.30 at 11:07 IST on BSE on reports that the company will increase car prices from January 2014 due to rising input costs.

Meanwhile, the S&P BSE Sensex was up 307.37 points or 1.46% at 21,311.42

On BSE, 33,148 shares were traded in the counter as against average daily volume of 74,191 shares in the past one quarter.

The stock hit a high of Rs 1,745 and low of Rs 1,709.10 so far during the day. The stock hit a record high of Rs 1,773.45 on 20 May 2013. 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 6 December 2013, rising 5.08% compared with the Sensex's 0.49% rise. The scrip had also outperformed the market in past one quarter, surging 31.61% as against Sensex's 8.96% rise.

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

Maruti Suzuki India sells a range of vehicles, from M800 to Grand Vitara.

Maruti Suzuki India on 2 December 2013, said its total sales declined 10.7% to 92,140 units in November 2013 over November 2012. Domestic sales dropped 5.9% to 85,510 units in November 2013 over November 2012. Exports slumped 46.2% to 6,630 units in November 2013 over November 2012.

Maruti Suzuki India's net profit jumped 194.7% to Rs 670.20 crore on 26.5% growth in net sales to Rs 10211.80 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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