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Maruti Suzuki Posts Strong June Sales; Shares Rise

Shares in Maruti Suzuki India surged over 3 per cent to Rs 2,517.75 after the company reported a 33.5 per cent jump in its June sales. Its total vehicle sales in June came in at 112,773 units, compared to 84,455 units during the same month last year. (Read:Maruti June Sales Up 33% at 1,12,773 Units)

Maruti's numbers were better than analyst expectations. Brokerage house Motilal Oswal expected Maruti to post June sales of 101,200 units.

As of 10.38 a.m., shares in Maruti traded 3.22 per cent higher at Rs 2,516.85, compared to 0.21 per cent gain in Nifty.