Maruti Suzuki shares cross Rs 13,000 for the first time

BNE News Desk

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Guwahati: Shares of Maruti Suzuki India Ltd surged to a historic Rs 13,000 in Monday's trading session, marking a significant milestone for the country's largest car manufacturer. The market capitalization also reached an impressive figure of over 4.09 lakh crore, setting the stage for its eagerly anticipated March quarter results, scheduled for Friday.

On Tuesday, the momentum continued as Maruti Suzuki India stock hit another record high of Rs 13,010, reflecting a nearly 2 percent increase. Analysts noted that the fourth quarter typically sees robust performance for passenger vehicle players both on a year-on-year (YoY) and quarter-on-quarter (QoQ) basis.

The fresh surge in the stock value was not preceded by any major announcement by the company during the trading hours. Upstox has cited Q4 results anticipation, strong sales, capacity expansion, and revision in vehicle costs, as the likely reasons behind Maruti’s rally. According to the data released by the Federation of Automobile Dealers, Maruti held a market share of 40.4% in the passenger vehicles segment as of March 2024.

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BNE News Desk