Maruti Suzuki share price jumped up to 4 per cent to Rs 5,830.95 apiece on BSE in Monday's trade as the company reported sales of 18,539 units in May.
Maruti Suzuki share price jumped up to 4 per cent to Rs 5,830.95 apiece on BSE in Monday’s trade as the company reported sales of 18,539 units in May after it reported zero sales of vehicles in April due to coronavirus-led nationwide lockdown. This includes sales of 13,865 units in the domestic market and 23 units to other OEMs. Maruti Suzuki stock price hit a 52-week low of Rs 4,002 in April, since then it has risen over 45 per cent. However, the stock price is still 25 per cent down from its 52-week high of Rs 7,755 hit in October last year. Maruti Suzuki exported 4,651 units following the resumption of port operations at Mundra and Mumbai port, ensuring that all guidelines for safety were followed.
The company resumed operations at its Manesar facility on May 12 and at Gurugram on May 18 following the government’s regulations and guidelines. The Manesar facility had commenced operations on a single shift basis with up to 75 per cent employees. Last month, the automaker also announced that its dealerships have started functioning under certain guidelines which include the highest level of sanitisation and hygiene at all the dealerships.
Maruti Suzuki shares were trading 2.84 per cent higher at Rs 5,771.25 apiece on BSE. The stock opened at 5,612 and hit a day’s low of Rs 5,680. Maruti Suzuki India Ltd (MSIL) also resumed production Suzuki Motor Gujarat Pvt Limited (SMG) from 25 May 2020. SMG manufactures cars on a contract basis for Maruti Suzuki. “The Company’s showrooms opened in accordance with Centre and State guidelines in a graded manner across different cities,” Maruti Suzuki said in a press release adding that the remaining showrooms would open in due course if they are not in the containment zone.
In another update, the company announced to extend its services that include free service, warranty and extended warranty. Maruti Suzuki also decided to extend the car’s warranty period validity and service timelines by a month to June 2020.