Maruti Suzuki rallies over 4% post September monthly sales data

NEW DELHI: Shares of Maruti Suzuki India rallied over 4 per cent in morning trade on Monday after the country’s largest carmaker posted a 29.4 per cent growth in domestic sales at 137,321 units last month on account of ongoing festive demand.

At 09:50 am, the stock was trading 3.9 per cent higher at Rs 5,694. It hit a low of Rs 5,628 and a high of Rs 5,707.25 in the first 30 minutes of trade.

This is the highest ever domestic sales for the company in terms of absolute volumes. Sales increased across segments.

“The September sales data for Maruti Suzuki is encouraging. We continue to prefer Maruti Suzuki and Bajaj Auto because of new launches and new models. The pipeline it has seems to hold it in good stead versus the rest of the pack," Rahul Singh, Managing Partner, Ampersand Investment Advisors, said in an interview with ETNow.

Gross sales of mini cars Alto and WagonR went up by 24.8 per cent to 44,395 units, while those of compact cars (Swift, Ritz, Celerio, DZire, Baleno) increased by 12.3 per cent to 50,324 units. Demand for midsized sedan Ciaz went up by 52.5 per cent to 6,544 units.