Maruti Suzuki India rose 1.3% to Rs 2,954.55 at 12:18 IST on BSE after the company's chairman R C Bhargava was quoted as saying that the car maker is confident of double-digit growth in car sales this year.
Meanwhile, the S&P BSE Sensex was down 1.71 points or 0.01% at 26,994.16.
On BSE, so far 21,000 shares were traded in the counter as against average daily volume of 39,133 shares in the past one quarter.
The stock was volatile. The stock rose as much as 1.45% at the day's high of Rs 2,959 so far during the day. The stock rose 0.3% at the day's low of Rs 2,925.45 so far during the day. The stock had hit a record high of Rs 2,963.70 on September 2014. The stock had hit a 52-week low of Rs 1,301.65 on 13 September 2013.
The stock had outperformed the market over the past one month till 11 September 2014, surging 9.45% compared with Sensex's 5.79% rise. The scrip had also outperformed the market in past one quarter, jumping 19.21% as against Sensex's 5.97% rise.
The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Maruti Suzuki India Chairman R C Bhargava was also quoted as saying in a newspaper interview that Maruti plans to invest Rs 4000 crore over the next five years in developing at least five new products at its India research & development (R&D) centre.
Maruti Suzuki India's net profit rose 20.7% to Rs 762.28 crore on 10.8% growth in net sales to Rs 11073.51 crore in Q1 June 2014 over Q1 June 2013.
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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