Shares of the country's largest passenger vehicle (PV) maker, Maruti Suzuki India (MSIL), hit a 12-week high of ₹12,194.5, gaining nearly 4 per cent on the BSE in Wednesday's intraday trade. The PV major ended the day 1.7 per cent higher at ₹11,940.6. In comparison, the BSE Sensex ended 0.29 per cent higher, while the BSE Auto index fell 0.53 per cent. The stock has also outperformed the market this month, riding on robust volumes in December and a positive outlook from brokerages.
Dispatches to dealers in December were up 29.6 per cent year-on-year (Y-o-Y) at 178,000 units. Exports witnessed double-digit volume growth with an increase of 39.2 per cent Y-o-Y at 37,419 units. A positive for the company is the higher sales in the entry-level segment, which accounted for 44 per cent of domestic sales in December. The segment saw a growth of 29 per cent Y-o-Y. While the midsize segment declined by 5.1 per cent, utility vehicle sales maintained their momentum with a 21 per cent rise to over 55,000 units.
This story is from the January 16, 2025 edition of Business Standard.
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This story is from the January 16, 2025 edition of Business Standard.
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