Maruti Suzuki shares rise as auto major raises vehicle prices from April

News24

LAST UPDATED: March 23, 2021, 3:43 p.m.

New Delhi (Anish Yande): Shares of Maruti Suzuki rose by 2 percent on Tuesday’s trading session. Following the opening bell, Maruti Suzuki shares rose to Rs 7,196 per share, at an increase of Rs 92. The shares of the automobile firm closed at  Rs 7,101.25 on the previous close.

The shares reached an intraday high of Rs 7,210.00 and dropped to an intraday low of Rs 7,130 on Tuesday’s trading session. 

Maruti Suzuki shares rise on hike in prices:

The shares of the largest carmaker in India rose following the announcement of a hike in vehicle prices from April 2021. In a filing to BSE, Maruti Suzuki has stated that the cost of the company’s vehicles has been impacted due to an increase in input costs. 

On January 18, 2021, the ex-showroom vehicle prices in Delhi are up by Rs 34,000. The prices of Alto were raised by up to Rs 9,000 and Espresso prices were increased by Rs 7,000. Prices of Baleno were increased by Rs 19,400.

Maruti Suzuki financial track record:

Maruti Suzuki had sold 26,884 units of SUVs such as Vitara Brezza, Ertiga, Ertiga, and XL-6 in February 2021. Comparatively, the automobile major had sold 22,604 units in February 2020. Sales of Ciaz were recorded at 1,510 units in February 2021 as compared to 2,544 units in February 2020. 

The Indian carmaker had sold  23,959 units of the S-Presso and Alto 800 in February 2021 as compared to 27,499 units in February 2020, recording a decrease in sales at 12.9 percent. 

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Maruti Suzuki had recorded an increase of 26 percent in the consolidated net profit to Rs 1,996.7 crore for the December 2020 quarter. Maruti Suzuki had recorded a net profit of Rs 1,587.4 crore in the December 2020 quarter.

The leading automobile manufacturer recorded an increase in wholesales to 1,64,469 units in February 2021, at 11.8 percent. The automobile firm recorded sales of 1,47,110 units in February 2020.

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