Maruti Suzuki India lost 2.1% to Rs 4,007.70 at 10:46 IST on BSE on concerns that high base of sales volume in Q4 March 2015 would result in muted year-on-year growth in Q4 March 2016.
Meanwhile, the S&P BSE Sensex was up 75.83 points or 0.31% at 24,545.40.
On BSE, so far 52,000 shares were traded in the counter as against average daily volume of 56,206 shares in the past one quarter. The stock hit a high of Rs 4,034.60 and a low of Rs 3,927.20 so far during the day. The stock had hit a 52-week low of Rs 3,362 on 10 February 2015. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had underperformed the market over the past one month till 28 January 2016, sliding 11.69% compared with Sensex's 6.01% fall. The scrip had, however, outperformed the market in past one quarter, declining 8.94% as against Sensex's 9.51% fall.
The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Maruti Suzuki India's net profit rose 27.06% to Rs 1019.30 crore on 18.95% growth in total income to Rs 15113.40 crore in Q3 December 2015 over Q3 December 2014. Higher volumes, material cost reduction initiatives and favorable foreign exchange contributed to growth in bottom line on year-on-year basis in Q3 December 2015, Maruti Suzuki India said. The result was announced market hours yesterday, 28 January2016.
Maruti Suzuki India said that going forward it could experience uncertainty on foreign exchange front and in commodity prices. On the flip side, interest rates and fuel prices remain benign. Maruti will continue launching new models, it said. The company had witnessed higher sales volume in Q4 March 2015 which would result in muted year-on-year growth in Q4 March 2016.
Japanese parent Suzuki Motor Corporation held 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 September 2015).
Powered by Capital Market - Live News
