Maruti Suzuki moves up on good May sales

Maruti Suzuki India rose 2.37% to Rs 8737.05 at 11:24 IST on BSE after the company said that its total sales rose 26% to 1.72 lakh units in May 2018 over May 2017.

The announcement was made during trading hours today, 1 June 2018.

On the BSE, 35,000 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 8,775 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.

Maruti Suzuki India said total domestic sales rose 24.9% to 1.63 lakh units, while total exports rose 48.1% to 9,312 units in May 2018 over May 2017.

In a separate announcement after market hours yesterday, 31 May 2018, Maruti Suzuki India said it crossed the mark of 3-lakh cumulative sale of cars with the acclaimed auto gear shift technology.

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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