Maruti Suzuki India fell 0.23% to Rs 2,546 at 14:31 IST on BSE after net profit rose 20.69% to Rs 762.28 crore on 11.72% rise in total income to Rs 11666.17 crore in Q1 June 2014 over Q1 June 2013.
The Q1 result was announced during trading hours today, 31 July 2014.
Meanwhile, the BSE Sensex was down 94.46 points, or 0.36%, to 25,992.96
On BSE, so far 87,056 shares were traded in the counter, compared with an average volume of 43,866 shares in the past one quarter.
The stock was volatile. The stock hit a high of Rs 2,589 and low of Rs 2,527 so far during the day. The stock hit a record high of Rs 2,663 on 2 July 2014. The stock hit a 52-week low of Rs 1,217 on 28 August 2013.
The stock had outperformed the market over the past one month till 30 July 2014, rising 4.66% compared with 2.65% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 33.05% as against Sensex's 16.37% rise.
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The large-cap company has an equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Maruti Suzuki India's total sales rose 12.6% to 299,894 vehicles in Q1 June 2014 over Q1 June 2013. Sales in the domestic market rose 10.3% to 270,643 units in Q1 June 2014 over Q1 June 2013. Exports rose 38.7% to 29,251 units in Q1 June 2014 over Q1 June 2013.
Maruti Suzuki India said that the company's cost reduction and localization initiatives, growth in volumes and favourable foreign exchange helped improve the bottomline during Q1 June 2014.
Meanwhile, Maruti Suzuki India said that subject to the approval of shareholders in the ensuring annual general meeting, Mr. Shigetoshi Torii has been appointed as whole- time Director designated as Director (Production) with effect from 31 July 2014 and that Mr. Masayuki Kamiya has resigned as a director on the board of the company with effect from close of business hours of 30 July 2014 due to withdrawal of nomination by Suzuki Motor Corporation, Japan.
Japanese parent Suzuki Motor Corporation holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 June 2014).
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