Baleno is the first product from the MSI portfolio to be exported to Japan
The stock hit a new high of Rs 5,720, up 4% on NSE after the company reported a strong 31% YoY growth in its passenger vehicle sales in September at 149,143 units.
Country's largest carmaker set to ease supply constraints, says chairman R C Bhargava at the 35th AGM
Sales of mini segment cars, including, Alto and WagonR, however, declined by 5.8 per cent
Interview with Managing Director, Maruti Suzuki
With wait period for the Baleno and Vitara Brezza running into 6-8 months and 8-9 months, respectively, Maruti is working to ramp up production for these models
In past one-week, the stock outperformed the market by gaining 10% as compared to 0.36% rise in Sensex.
Company said that its Japanese parent Suzuki Motor Corp is expected to start pilot production at the Gujarat plant
The stock moved higher by nearly 4% to Rs 3,862, recovering 5% from intra-day low on the National Stock Exchange.
The stock was up 3.3% at Rs 3,828 on the BSE as compared to 0.04% decline in the S&P BSE Sensex at 01:35 pm.
The company has also exported over 3,80,000 Alto cars to over 70 countries
In February, the stock had underperformed the market, fallen 21% as compared to 7.5% decline in Nifty 50 index.
Thus far in 2016, the stock tanked 30% as compared to 12% decline in the S&P BSE Sensex.
Thus far in February, the stock has fallen 18% as compared to 8% decline in the S&P BSE Sensex.
The stock was down 2.4% at Rs 3,495 on the BSE in early morning trade.