Maruti gets the green light

Maruti Suzuki has got the green signal today. The stock is up currently 3% at Rs.1377, with an intra day high at Rs.1387.95. Stocks worth Rs.5.74 crore have been traded today morning.

The stock is up because for the first time, after nine long months, the company’s passenger vehicles sales jumped back to the positive territory with a 15.37% growth in August. Compared to 1,15,705 sales in August’12, in Aug’13 the company sales stood at 1,33,486 cars. This could be more on account of the lower base effect as it was in Aug’12 that the company faced one of its worst labour crisis ever at Manesar and the plant was under a month-long lockout. These numbers came in last week but it is only now that the market has chosen to react to the sales numbers.