Maruti Suzuki India rose 2.81% to Rs 5,067.90 at 11:02 IST on BSE as the Japanese yen weakened against the dollar.
Meanwhile, the BSE Sensex was up 211.92 points, or 0.76%, to 28,114.58.
On BSE, so far 60,000 shares were traded in the counter, compared with average daily volume of 76,518 shares in the past one quarter. The stock hit a high of Rs 5,074.70 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 4,950 so far during the day. The stock hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past 30 days till 29 August 2016, rising 3.66% compared with 0.53% slide in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.27% as against Sensex's 4.63% rise.
The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
A weak yen lifts Maruti's operating profit margin. Maruti pays royalty to its Japanese parent Suzuki Motor Corporation in yen terms for some of its earlier models. Maruti has reportedly started paying royalty to its Japanese parent in rupee terms on all new models from 1 April 2016. Maruti also has an exposure to the yen to the extent it imports raw materials from Japan.
Maruti Suzuki India's net profit rose 23.02% to Rs 1486.20 crore on 13.45% growth in total income to Rs 15410.60 crore in Q1 June 2016 over Q1 June 2015.
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 (as per the shareholding pattern as on 30 June 2016).
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