Maruti Suzuki India rose 1.53% to Rs 1,414 at 09:18 IST on BSE on reports the company will raise vehicle prices in the first week of October to offset higher input costs.
Meanwhile, the S&P BSE Sensex was down 18.40 points or 0.09% at 19,837.84.
On BSE, 3,412 shares were traded in the counter as against average daily volume of 66,878 shares in the past one quarter.
The stock hit a high of Rs 1,416.50 and a low of Rs 1,405.35 so far during the day. The stock had hit a record high of Rs 1,773.45 on 20 May 2013. The stock had hit a 52-week low of Rs 1,217 on 28 August 2013.
The stock had outperformed the market over the past one month till 25 September 2013, rising 7.52% compared with the Sensex's 7.22% gain. The scrip, however, underperformed the market in past one quarter, declining 10.03% as against Sensex's 6.59% rise.
The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Maruti Suzuki India will reportedly raise vehicle prices by up to Rs 10,000 in the first week of October 2013 to offset higher input costs, caused mainly by a sharp fall in the local currency's value. A weak rupee adds to inflation by swelling the cost of imported parts for companies such as Maruti as well as for their auto-parts suppliers. Fuel retailers have also increased the prices of diesel, the fuel used by trucks to transport vehicles.
Maruti Suzuki India's total sales surged 61.2% to 87,323 units in August 2013 over August 2012. The company's domestic sales jumped 51.6% to 76,018 units in August 2013 over August 2012. Export sales spurted 180.9% to 11,305 units in August 2013 over August 2012.
Maruti Suzuki India's net profit surged 49% to Rs 631.61 crore on 5.1% decline in net sales to Rs 9995.12 crore in Q1 June 2013 over Q1 June 2012.
Japanese parent Suzuki Motor Corporation holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 30 June 2013).
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