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Maruti Suzuki extends gains after strong Q3 earnings

Capital Market/ 12:21 , Jan 29, 2013

Maruti Suzuki India rose 0.62% to Rs 1,617.25 at 12:21 IST on BSE, with the stock extending 2-day 4.6% rally triggered by the company reporting strong Q3 results.

Meanwhile, the BSE Sensex was up 69.70 points or 0.35% at 20,173.05.

On BSE, 27,000 shares were traded in the counter as against average daily volume of 78,665 shares in the past one quarter.

The stock hit a high of Rs 1,628 and a low of Rs 1,608 so far during the day. The stock had hit a 52-week high of Rs 1,634 on Monday, 28 January 2013. The stock had hit a 52-week low of Rs 1,052 on 4 June 2012.

The stock had outperformed the market over the past one month till 28 January 2013, surging 7.14% compared with the Sensex's 3.39% rise. The scrip had also outperformed the market in past one quarter, jumping 17.59% as against Sensex's 7.94% surge.

The large-cap company has equity capital of Rs 144.46 crore. Face value per share is Rs 5.

Shares of Maruti Suzuki India have surged 5.25% in three trading sessions from Rs 1536.50 on 24 January 2013, after the company during trading hours on Friday, 25 January 2013, reported strong Q3 earnings.

Maruti Suzuki India's net profit jumped 143.8% to Rs 501.29 crore on 45.6% growth in net sales to Rs 10956.95 crore in Q3 December 2012 over Q3 December 2011. Maruti Suzuki India said the growth in net profit was primarily due to higher sales and good response to new models like Ertiga and Swift DZire. The company's continued cost reduction efforts helped to drive profit in the quarter, Maruti said in a statement. Maruti said that the growth in net sales was account of higher volumes, favourable model mix and enhanced export realization.

Japanese parent Suzuki Motor Corporation holds 54.21% stake in Maruti Suzuki India.


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