Maruti Suzuki shares surged almost 3% on higher February sales:
Maruti Suzuki: It is one of the largest automobile manufacturing companies in India located in New Delhi. Initially, the company was also known as Maruti Udyog and later changed into Maruti Suzuki. The main reason for this is the company works under the subsidiary of the Japanese automotive manufacturer Suzuki Motor Corporation.
Whereas the company manufacture products like Automobiles, Commercial vehicles, Automotive parts, Trucks, and SUVs. The present Managing Director (MD) & Chief Executive Officer (CEO) of the company is Kenichi Ayukawa.
Meanwhile. on Monday, March 1st, the shares of the automotive company surged almost 3% in the stock market. The main reason for this is the company reported higher “February sales” during the financial year 2021-22.
Whereas the company’s total sales for the month of February increased by 11.80% to 1,64,469 units as against 1,47,110 units in the same month last financial year. The domestic sales of the company increased by 11.80% to 1,52,983 units and exports increased by 11.90% Year-on-Year (YoY) to 11,486 units.
Moreover, the companies domestic passenger vehicle sales increased by 8.30% to 1,44,761 units in February. While the company also reported its Mini and Compact vehicle segment growth at 7.30% to 1,04,476 units. Besides, the Utility sales of the company increased by 18.90% to 26,884 units.
On the other side, the company touched its 52-week high at Rs. 8,400 on January 13th, 2021, and a 52-week low at Rs. 4,002 on April 3rd, 2020.
However, the shares of Maruti Suzuki Limited reported a bullish trend in the stock market on Monday. It gained 158.75 points with a 2.31% increase and reached 7,024.90 INR. While in BSE, the company gained 144.35 points with a 2.10% increase and reached 7,017.00 INR.
Stock Market on March 1st:
On Monday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last session of the market. The Sensex is trading above 49,800 levels and nifty trading above 14,700 levels in the stock market. The Sensex gained 749.85 points with a 1.53% increase and reached 49,849.84 levels. While the nifty gained 232.40 points with a 1.60% increase and reached 14,761.55 levels.
On the other side, the number of coronavirus cases in India on Monday, March 1st reached 1,11,12,241 with almost 1,57,157 deaths.
In the border markets, the S&P BSE SmallCap index reported a bullish trend in the stock market on Monday. It gained 323.74 points with a 1.61% increase and reached 20,479.09 levels. But, the S&P BSE MidCap gained 291.68 points with a 1.46% increase and reached a 20,270.33 level. While the Nifty Bank gained 492.40 points with a 1.41% increase and reached 35,296.00 level.
Top Gainers on March 1st: Power Grid Corporation, ONGC, Grasim Industries, UPL, and Shree Cements are the top gainers in today’s stock market.
Top Losers on March 1st: Bharti Airtel is the only top loser in today’s stock market.