Maruti Suzuki India rose 1.69% to Rs 4,561.05 at 14:49 IST on BSE after the company announced that it will start sales of its first Light Commercial Vehicle Super Carry towards the end of August.
The announcement was made during market hours today, 27 July 2016Meanwhile, the BSE Sensex was down 29.55 points, or 0.11%, to 27,946.97
On BSE, so far 87,979 shares were traded in the counter, compared with an average volume of 74,904 shares in the past one quarter. The stock hit a high of Rs 4,625.55 and a low of Rs 4,512.80 so far during the day. The stock hit a record high of Rs 4,789 on 23 November 2015. 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 one month till 26 July 2016, rising 10.23% compared with 5.98% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.91% as against Sensex's 7.57% rise.
The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Today's gains in Maruti Suzuki India scrip were also triggered by the Japanese yen weakening against the dollar on expectations of further easing of monetary policy from the Bank of Japan (BOJ) later this week. 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 today, 27 July 2016 announced that it will start sales of its first Light Commercial Vehicle (LCV) - Super Carry towards the end of August. Initially the vehicle will be sold in three cities - Ahmedabad, Kolkata and Ludhiana. With Super Carry, Maruti Suzuki India marks its entry into the Light Commercial Vehicle (LCV) segment. The company has invested about Rs 300 crore towards the development of Super Carry. Super Carry is pried at Rs 4.03 lakh (ex-showroom) in Ahmedabad, Rs 4.11 lakh (ex-showroom) in Kolkata and Rs 4.01 lakh (ex-showroom) in Ludhiana.
Super Carry is high on performance and strength, comes with bigger loading area and better safety features. It comes with Maruti Suzuki India's reliability and assurance of unmatched after-sales support.
R.S Kalsi, Executive Director (Marketing & Sales), Maruti Suzuki India said that Super Carry offers best of both the worlds -power and strength as well as carrying capacity. Super Carry will be retailed through a dedicated commercial sales channel. Super Carry will be available in diesel fuel option and comes in two widely preferred colours: superior white and silky silver.
Maruti Suzuki India's net profit rose 23% to Rs 1486.20 crore on 13.5% rise in total income to Rs 15410.60 crore in Q1 June 2016 over Q1 June 2015. The result was announced during market hours yesterday, 26 July 2016. Shares of Maruti Suzuki India fell 1.44% to settle at Rs 4,485.25 yesterday, 26 July 2016.
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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