Maruti’s Undefeated Rally: Stock Hits Life High Again, Record Sales in August

  • Investing.com
  • Stock Market News
Maruti’s Undefeated Rally: Stock Hits Life High Again, Record Sales in August
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the country’s largest car manufacturer Maruti Suzuki (NS: MRTI ) recorded a new all-time high of Rs 10,397.95 apiece for the second straight session on Friday, surging 3.94% in the intraday trade.

The market heavyweight stock has been rising continuously for the past five sessions, rising 9.2% in the period.

The domestic automaker released its (monthly) sales figures for August on September 1, 2023, recording its highest-ever monthly sales volume in the month.

Maruti Suzuki sold a total of 1,89,082 units of vehicles in August, comprising 1,58,678 units of domestic sales, 24,614 units of exports and 5,790 units of sales to other OEMs (original equipment manufacturers). The company sold 1,65,173 units in August 2022.

The auto giant’s Passenger Cars segment witnessed sales of 85,509 units last month, while the Total Domestic Passenger Vehicle Sales (PV) were reported at 1,56,114 units compared to 1,34,166 units sold in August 2022.

Maruti Suzuki’s Total Domestic Sales including Light Commercial Vehicles (LCVs) stood at 1,58,678 units in August compared to 1,37,537 units in the same month last year.

A total of 14 InvestingPro financial models cover the auto giant’s stock, with the ‘EV / EBIT Multiples’ investing model setting the most bullish fair price of Rs 11,957/share on it.

As per Maruti Suzuki’s closing price on Friday, the said fair price depicts a potential upside of 15.73%.

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