Maruti Suzuki share price jumps 5% after 30% rise in December 2024 sales. Do you own? | Stock Market News
Source: Live Mint
Maruti Suzuki share price jumped nearly 5% on Thursday after the company reported a significant rise in its auto sales for the month of December 2024. Maruti Suzuki shares rallied as much as 4.96% to ₹11,734.90 apiece on the BSE.
Maruti Suzuki shares were among the top gains on Nifty 50 and BSE Sensex constituents.
The auto major reported a 30% rise in total wholesales at 1,78,248 units in December 2024 compared to 1,37,551 units in the same month a year ago.
Overall domestic sales, including that of light commercial vehicles and supplies to Toyota Kirloskar Motor, increased 27.25% to 140,829 units last month against 110,667 units in December 2023, Maruti Suzuki India said in a regulatory filing.
The company’s exports increased 39.18% to 37,419 units in December 2024, as against 26,884 units, year-on-year (YoY).
Total domestic passenger vehicle (PV) sales were at 1,30,117 units compared to 1,04,778 units in the same month a year ago, up 24.18%, it added.
Maruti Suzuki Share Price Outlook
On the technical front, Maruti Suzuki stock has given a breakout on the weekly chart and is showing a bullish trend.
“On the weekly chart, Maruti Suzuki shares have given a breakout at ₹11,400 level. One can buy Maruti Suzuki shares for a short-term target of ₹12,100, keeping a stop loss at ₹11,200 – 11,300 levels. The next target for the stock would be ₹12,600,” said Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi.
Maruti Suzuki share price has dropped 10.8% in the past three months, but has gained more than 15% in one year. The automobile heavyweight has risen 40% in two years.
At 1:00 PM, Maruti Suzuki shares were trading 4.89% higher at ₹11,770.00 apiece on the BSE.
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