Maruti Suzuki hits new lifetime high on strong July sales

The stock up is 2% at Rs 4,419 after the company reported a strong 20% Y-O-Y growth in July sales at 1.22 lakh units.

Shares of Maruti Suzuki India were trading higher by 2% at Rs 4,419 on the NSE after the company reported robust 20% year-on-year (YOY) growth in July sales at 1.22 lakh units, aided by passenger car sales. The country’s largest car maker sold 1.01 lakh units sold in the same period last year.

Maruti said passenger cars sales grew by 26% YoY to 91,602 units during the month, against 72,782 units in the same quarter last year.

Meanwhile, total domestic sales increased by 22.5% to 1.1 lakh units compared to 90,093 units in the year-ago period, while exports grew only 0.2% to 11,307 units in July, the company added.

The stock hit a record high of Rs 4,430 on the NSE in early morning trades. A combined around 56,000 shares changed hands on the counter on the NSE and BSE till 09:29 AM.