Maruti Suzuki’s share price is nearing towards Rs. 10,000 mark; hits Rs. 8,695 on Friday on the BSE
Maruti Suzuki is on a high as the company’s impressive November sales have boosted its share pricing to a new level. The Indo-Japanese automaker has recorded its all-time high share pricing at Rs. 8,695 on Friday on BSE. Now, the auto major is aiming to reach the per unit share pricing of Rs. 10,000 in coming weeks. As the global brokerage house CLSA is predicting, Maruti Suzuki’s share pricing will see a 16.2% hike over the closing price of Thursday.
India’s biggest automaker has seen immense success in recent times with range of new models like the Vitara Brezza compact SUV, new Dzire compact sedan, new Celerio hatchback etc. Anticipatory high expectation on the upcoming new generation Swift hatchback and Ciaz facelift is also boosting the price.
In November, Maruti Suzuki sold 1.54 lakh units, which marked an impressive 14.1% hike compared to same month last year. In November 2016, the auto manufacturer sold 1.35 lakh units. Domestic sales of the company has seen a 15% YoY growth as the company sold 1.45 lakh units in India last month.
Despite increasing competition in the domestic market, Maruti Suzuki is continuing its domination in the small car and entry level sedan segment. The boost in share pricing is also attributed to the high earning visibility and improving outlook. As the brand hopes to see a major boost in coming years with its new models, the share pricing too is expected to see a major hike.
Interestingly, while achieving this success in the share market, Maruti Suzuki has launched its new crossover variant of the Celerio hatchback, dubbed as Celerio X. This all-new car comes priced between Rs. 4.57 lakh and Rs. 5.42 lakh (ex-showroom, New Delhi). It will directly take on tough rival like Renault Kwid that has seen immense success in the country market since its arrival here.