Maruti shares up 2.5%; mcap rises by Rs 3,228 cr post earnings

Shares of Maruti Suzuki India (MSI) today rose 2.5 per cent after the company posted 42.1 per cent jump in net profit for the second quarter ended September 30.
Scrip of the country's largest car maker climbed 2.44 per cent to settle at Rs 4,494.60 on BSE. During the day, it rose 2.99 per cent to Rs 4,519.
At NSE, the stock was up 2.55 per cent to end at Rs 4,497.
Maruti was the top gainer on Sensex and Nifty.
Led by the uptick in the stock, the company's market capitalisation (m-cap) rose by Rs 3,227.9 crore to Rs 1,35,772.90 crore.

"Maruti Suzuki surprised the markets with a 42.1 per cent rise in net profit for September quarter," Achin Goel, Head: Wealth Management & Financial Planning, Bonanza Portfolio Ltd said.

MSI today posted 42.1 per cent jump in net profit at Rs 1,225.56 crore for the second quarter ended September 30, riding primarily on robust sales, reduction in material cost and favourable foreign exchange.
The company had posted a net profit of Rs 862.54 crore during the same period of previous fiscal.
Net sales of the company rose 13.2 per cent to Rs 13,574.8 crore during the second quarter as against Rs 11,996.33 crore during the same period a year ago, MSI said in a statement.

The company sold 3,53,335 vehicles during the second quarter, a growth of 9.8 per cent, over 3,21,898 units in the second quarter of 2014-15.