Maruti Suzuki India fell 0.34% to Rs 3,599.35 at 9:52 IST on BSE after the company announced price hike across its car models.
The announcement was made during market hours today, 3 March 2016.Meanwhile, the BSE Sensex was up 177.11 points, or 0.73%, to 24,420.09.
On BSE, so far 29,000 shares were traded in the counter, compared with an average volume of 82,491 shares in the past one quarter. The stock hit a high of Rs 3,647 and a low of Rs 3,594.40 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 underperformed the market over the past one month till 2 March 2016, sliding 6.82% compared with 1.21% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 21.82% as against Sensex's 7.18% fall.
The large-cap company has an equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Maruti Suzuki India (MSIL) announced that the ex-showroom prices of its models would go up in the range of Rs 1,441 to Rs 34,494 across its models, following the levy of infrastructure cess on automobiles in Union Budget 2016-17. As smart hybrid models (Ciaz SHVS and Ertiga SHVS) are exempt from the infrastructure cess, there is no change in the prices of these models, the company said.
Finance minister Arun Jaitley in the Union Budget 2016-17 early this week, imposed infrastructure cess of 1% on small petrol, LPG, CNG cars, 2.5% on diesel cars of certain capacity and 4% on other higher engine capacity vehicles and SUVs.
Maruti Suzuki India's net profit rose 27.1% to Rs 1019.30 crore on 20.4% growth in net sales to Rs 14767.70 crore in Q3 December 2015 over Q3 December 2014.
Japanese parent Suzuki Motor Corporation held 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 December 2015).
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