Maruti Suzuki shares locked at 3% upper circuit, hit 52-week high as Mcap crosses ₹4 lakh crore-mark
Maruti Suzuki India Share Price Today: Shares of India's largest car manufacturer were locked at over three per cent upper circuit to hit a 52-week high mark of ₹12,724.95 apiece on the BSE earlier today as the firm's market capitalisation (Mcap) breached ₹4 lakh crore-mark in intra day trade. On Wednesday, March 27, shares of Maruti Suzuki opened at ₹12,265.05 and gained 3.74 per cent to hit a 52-week high of ₹12,724.95 apiece on the BSE. Shares settled 2.16 per cent higher at ₹12,520.30 apiece on the BSE.
During the day, the automaker's market valuation jumped to ₹4,00,075.70 crore mark. At the close of trade, the Mcap remained at ₹3,94,575.23 crore. Also Read: Maruti Suzuki India Q3 FY24 Results Live: Profit Rises by 33.28% YoY Maruti Suzuki reported over 33 per cent jump in its consolidated net profit for the quarter ended December 2023 at ₹3,206.8 crore compared to ₹2,406.1 crore reported in the year-ago period.
The automaker's revenue for the quarter came in at ₹33,512.8 crore compared to ₹29,251.1 crore in the year ago, registering a 14.5 per cent year -on year (YoY) growth. The operating income was down by 21.06 per cent sequentially but increased by 45.05 per cent YoY. The EPS for Q3 FY24 is ₹102, which increased by 33.28 per cent YoY.
The sales volume for the said quarter stood at 501,207 compared to 465,911 which was a 7.6 per cent rise on an annual basis. Domestic brokerage firm Religare Broking is overweight on the auto stock and sees a potential upside of 24.8 per cent at a target price of ₹12,715. Maruti continues to lead the passenger vehicle industry with a market share of 42.9 per cent in the domestic market and remains a leading player in exports from India with consistent rise in volumes, said
. Read more on livemint.com
