Maruti Suzuki rises over 1 pc on bourses after Q4 results

MUMBAI: Shares of car maker Maruti Suzuki India rose by over one per cent on the BSE, after the company reported a marginal rise in net profit for the quarter ended March 31, 2011, at Rs 659.86 crore.

The scrip of the country's largest car maker, settled higher by 1.53 per cent at Rs 1,326.55 on the Bombay Stock Exchange (BSE). In intra-day trade, the stock went up by 2.17 per cent to touch a month's high of Rs 1,335.

On the National Stock Exchange, Maruti Suzuki's shares closed with a gain of 1.38 per cent at Rs 1,325.

"However, most of the auto stocks ended in the red. Select buying was seen at the Maruti counter, which declared better than expected results," Bonanza Portfolio Limited Senior Research Analyst (Equity) Shanu Goel said.

In terms of volume, over 16 lakh shares of the company changed hands on the two bourses during the day.

The company's board also recommended a dividend of 150 per cent, which is Rs 7.50 per share of the face value of Rs 5 for 2010-11.

Meanwhile, the BSE 30-scrip key index Sensex finished the day on a flat note at 19,584.31.