Maruti Suzuki India stock hits 52-week high after robust Q1 results

Maruti Suzuki India’s shares surged more than 2% in morning trade on Thursday after the company reported a 47% increase in net profit to Rs 3,650 crore for the June quarter. The stock rose 2.30% to trade at Rs 13,417.05 apiece on the NSE and 2.06% to trade at Rs 13,439.55 on the BSE.

During intra-day trade, the company’s shares reached a 52-week high of Rs 13,680 and Rs 13,675 on the NSE and BSE, respectively. The company’s market valuation also increased by Rs 15,941.78 crore to Rs 4.29 lakh crore on the BSE, and it stood at Rs 4.30 lakh crore on the NSE.

The 30-share BSE Sensex increased by 127 points (0.16%) to 81,868.34, and the NSE Nifty rose by 61.40 points (0.25%) to 25,012.55. Maruti Suzuki India reported a 47% jump in net profit to Rs 3,650 crore for the June quarter in a regulatory filing on Wednesday.

This boost was attributed to cost reduction efforts, favorable commodity prices, and foreign exchange gains. The company’s net sales increased to Rs 33,875 crore, up from Rs 30,845 crore in the previous year.

During the first quarter, the company sold 5,21,868 vehicles, marking a 5% increase from the previous fiscal year. Domestic sales also saw a 4% increase, with 4,51,308 units sold in the same period.