Stocks of Maruti Suzuki India today extended its rally and gained nearly five per cent following the company reporting its highest ever annual profit of Rs 3,711.2 crore in the fiscal year ended March 31, 2015.
Scrip of the country's largest car maker ended 4.93 per cent higher at Rs 3,826.65 on the BSE. During the day, it surged 5.19 per cent to Rs 3,836 -- its 52-week high.
On the NSE, the stock settled at Rs 3,822.60, up 4.77 per cent from its previous close.
Following the smart set of results, the company's stock had gained three per cent yesterday.
The company's market value rose by Rs 8,665.47 crore in last two days.
"Maruti Suzuki continued its surge and rallied more than 4.7 per cent owing to continued buying spree after its better-than-expected Q4 results," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Ltd.
Driven by record sales, Maruti Suzuki India yesterday reported its highest ever annual profit of Rs 3,711.2 crore in the fiscal year ended March 31, 2015.
The company, which had posted an annual net profit of Rs 2,783.05 crore in 2013-14, -- its previous best -- said it expected 10-11 per cent growth in volume terms in the ongoing fiscal.
Net sales in FY 2015 also stood at a record high of Rs 48,605.53 crore, up 13.97 per cent from Rs 42,644.76 crore in the 2013-14.
The company also recorded its highest ever volume sales in a fiscal at 12,92,415 units, up 11.9 per cent from the previous fiscal. Of this, exports were at 121,713 units, a gain of 20.1 per cent, the company had said.
Buoyed by the performance, the company said its Board of Directors recommended a dividend of 500 per cent, Rs 25 per share of face value Rs 5 for 2014-15. The dividend in 2013-14 was at 240 per cent, Rs 12 per share of face value Rs 5.
In the stock, the BSE benchmark Sensex ended at 27,396.38, up 219.39 points.
