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Maruti Suzuki share price rises over 2% on August sales

Share price of Maruti Suzuki gained 2.63% to Rs 7018 against previous close of Rs 6837 on BSE

twitter-logoBusinessToday.In | September 1, 2020 | Updated 15:45 IST
Maruti Suzuki share price rises over 2% on August sales
Maruti Suzuki share is trading higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages

Maruti Suzuki India (MSI) share gained over 2% on Tuesday after the company reported a 17.1 per cent increase in sales in August. Share price of Maruti Suzuki gained 2.63% to Rs 7018 against previous close of Rs 6837 on BSE.

The large cap stock has gained after 2 days of consecutive fall. Maruti Suzuki share is trading higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The large cap share has risen 12.6% in one year but lost 6.44% since the beginning of this year. Market cap of the firm rose to Rs 2.08 lakh crore.

In a month, the share has gained 10%.

 Total 0.25 lakh shares changed hands amounting to turnover of Rs 18.12 crore on BSE.

Sales in August rose to 1,24,624 units  against 1,06,413 units in August last year, Maruti said. Domestic sales rose 20.2 per cent to 1,16,704 units last month against 97,061 units in August 2019. Sales of mini cars comprising Alto and WagonR stood at 19,709 units as compared to 10,123 units in the same month last year, up 94.7 per cent.

Meanwhile, Sensex erased partial losses from yesterday and was trading 318 points higher at 38,946.

Maruti sees 21.3% growth in August, wholesale dispatches cross 1 lakh for first time since February

Similarly Nifty gained 108 points to 11,496. On Monday, benchmark indices snapped six days of gaining streak after reports of tension on India-China border weakened market sentiment. Sensex closed 839 points or 2.13% lower at 38,628 and Nifty fell 260 points or 2.23% to 11,387. 

Maruti Suzuki spent Rs 1,500 crore to buy 118 land parcels; here's why

By Aseem Thapliyal

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