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Maruti Suzuki rises on bargain hunting

Capital Market 

Maruti Suzuki India was up 1.14% to Rs 5534.55 at 11:32 IST on the BSE, breaking a three day losing streak today.

The stock fell 5.74% in the past three trading sessions to settle at Rs 5472.15 yesterday, 31 July 2019, from its close of Rs 5805.55 on 26 July 2019.

Meanwhile, the S&P BSE Sensex was down by 454.98 points or 1.21% to 37,026.64.

On the BSE, 35000 shares were traded in the counter so far compared with average daily volumes of 92000 shares in the past two weeks. The stock had hit a high of Rs 5536 and a low of Rs 5447.2 so far during the day. The stock had a hit a 52-week high of Rs 9590 on 1 August 2018 and a 52-week low of Rs 5447 on 31 July 2019.

Meanwhile, the company reported a 33.5% decline in the total sales to 109264 units in July 2018 from 1,64,369 units in July 2018. Total domestic sales declined 36.3% to 98,210 units while total exports declined 9.4% to 9,258 units in July 2018 from 10,219 units in July 2018. The announcement was made during market hours today, 1 August 2019.

Maruti Suzuki India's consolidated net profit declined 31.7% to Rs 1376.30 crore on 14.1% decline in net sales to Rs 18,738.80 crore in Q1 June 2019 over Q1 June 2018.

Maruti Suzuki India, India's largest passenger car company, is engaged in the business of manufacturing, purchase and sale of motor vehicles.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 01 2019. 11:34 IST