Maruti Suzuki on a record run spree

The hot-selling ‘Swift’ car maker, Maruti Suzuki hit a fresh record high, hitting its 52-week high of Rs 7,419 per share on the BSE. The stock witnessed a huge spurt in volume of more than 1.68 times.

A media report indicated that the company plans to spend Rs 1,000 crore in land acquisition in 2017.

The stock has since achieved its 7000 marks in the previous month and is on a 52-week hitting spree.

The recently announced goods and services tax (GST) regime favours the broader car market and Maruti with its wide range of products including sedans and compact SUVs, is well-positioned to enjoy the benefits. This too has added the stock up.

Stock view :-

Maruti Suzuki India Ltd is currently trading at Rs 7434.95, up by Rs 201.2 or 2.78% from its previous closing of Rs 7233.75 on the BSE.

The scrip opened at Rs 7250 and has touched a high and low of Rs 7437 and Rs 7232.05 respectively. So far 1024070(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 218517.12 crore.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 7252.55 on 08-Jun-2017 and a 52 week low of Rs 3868.1 on 24-Jun-2016. Last one week high and low of the scrip stood at Rs 7252.55 and Rs 7087.55 respectively.

The promoters holding in the company stood at 56.21 % while Institutions and Non-Institutions held 36.82 % and 6.98 % respectively.

The stock is currently trading above its 50 DMA.

Maruti Suzuki India Ltd :-
BSE 7,444.25 210.50 (2.91%)
NSE 7,455.50 206 (2.84%)

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