Maruti Suzuki hits new high post April sales; m-cap crosses Rs 2 lakh crore
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Maruti Suzuki India (MSIL) hit a new high of Rs 6,700, up 2.7% on BSE in early morning trade after the company reported a record monthly domestic sales of 144,492 vehicles in April 2017. The company had sold 117,045 vehicles in April 2016.
All segments of vehicles except vans grew in double digits: the mini segment (Alto and WagonR) grew by 22%; the compact segment (Swift, Celerio, Ignis, Baleno, and Dzire) by 39%; and utility vehicle by 28%.
MSIL, leader in the passenger vehicles, sold a total of 151,215 units in April 2017, 19.5% more than the 126,569 vehicles sold in April 2016, the company said in a press release.
The stock had gained 5% during the last week after MSIL reported a better than expected results for the March quarter (Q4FY17).
A strong rally in market price has seen MSIL joining Rs 2 lakh crore market capitalisation (market-cap) club.
At 09:20 am, with the market capitalization (m-cap) of Rs 200,554 crore, MSIL stood behind fast moving consumer goods (FMCG) major, Hindustan Unilever, which had m-cap of Rs 202,031 crore, the BSE data showed.
MSIL was trading 1.8% higher at Rs 6,640 against 0.40% rise in the S&P BSE Sensex. A combined 95,012 equity shares exchanged hands on the counter on BSE and NSE.
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India's Muthoot Finance is planning to raise funds through US dollar-denominated bonds maturing in three years and nine months and has provided initial guidance for a coupon of around 7.375 per cent, two bankers said on Tuesday.
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Odisha Chief Minister Naveen Patnaik on Monday alleged that his opponents remember the people of the state only during elections and have no sincerity towards them.
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Tech giant Microsoft Corporation recently acquired 48 acres of land in Hyderabad in a transaction estimated to be worth around Rs 267 crore.
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Shares of Shakti Pumps (SPIL) locked in the upper circuit for the fifth straight day, up 5 per cent at Rs 2,585.85 per share on the BSE in Monday's intraday deals. This came after the company reported a robust March quarter (Q4FY24) earnings and strong order book. In comparison, the S&P BSE Midcap and Smallcap index were down by 1 per cent.
The stock of the company is trading at its record high level and has rallied 28 per cent in past one week. Moreover, in the past 33 trading days, the stock has more than doubled or zoomed 104 per cent from Rs 1,121 on March 14, 2024.
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