Maruti Suzuki Shares Gain as July Sales Rise 22%

Shares in Maruti Suzuki gained over 3 per cent to Rs 2,605 as the company reported healthy auto sales numbers for the month of July mainly driven by export sales.

The company reported 21.7 per cent year-on-year (y-o-y) jump in July auto sales to 1,01,380 units as against 83,299 units reported in the same period last year.

Maruti's passenger car sales grew 15.5 per cent y-o-y to 72,782 units in July whereas its total domestic sales grew by 20 per cent y-o-y to 90,093 units.

Export sales, which were the main driver of its overall sales in the month of July, grew over 38 per cent to 11,287 units as against 8,154 units in the same month last year.

As of 10.30 a.m. shares in Maruti Suzuki traded 2.41 per cent higher at Rs 2,585 as compared to 0.65 per cent fall in Nifty.