Maruti shares gain 4.5% on bourses

Shares of Maruti Suzuki India (MSI) rose by 4.5 per cent today as the company aims to have 250 Nexa outlets by March 2017 and expects the premium sales and service outlets to contribute 15 per cent of the company's sales by 2020.
The scrip went up by 4.47 per cent to settle at Rs 4,762.70 on BSE. During the day, it jumped 4.89 per cent to Rs 4,782.
On NSE, it rose by 4.5 per cent to close at Rs 4,763.50.
Launched in July 2015, Nexa today completed one year of operations. It currently has 150 outlets across 94 cities.

Over 1 lakh cars have been sold through this channel till date, which employs 3,500 relationship managers.
"Over half (51 per cent) of the customers who bought cars at Nexa were not customers of Maruti Suzuki at that point, indicating that through Nexa, we are able to attract new categories of customers," MSI Executive Director (Marketing & Sales) R S Kalsi said in a statement.
Maruti Suzuki plans to expand the number of premium outlets to 250 by March 2017 and Nexa is expected to contribute 15 per cent of MSI sales by 2020, the auto major said.