Maruti Suzuki trades higher for the 4th straight day, hits over 11-mth high

Analysts at Dolat Capital believe the increasing realisation of used cars and recovery in urban demand will aid in faster recovery of replacement demand.

Shares of Maruti Suzuki (India) (MSIL) hit an over 11-month high of Rs 7,510, up 4.3 per cent on the BSE on Thursday. The stock of the passenger vehicles (PV) bellwether was trading higher for the fourth straight day, rising 7 per cent during the period, even as the company’s volumes in November rose at a modest pace by 1.1 per cent to 153,223 units, dragged by a 5 per cent decline in the core mini and compact portfolio.

The stock was trading at its highest level since January 20, 2020. It had hit a 52-week high of Rs 7,566