Maruti Suzuki share price today: Maruti Suzuki India’s shares surged 4% on Wednesday, hitting a fresh 52-week high of Rs 12,722.70 on the National Stock Exchange (NSE). The company now boasts a market capitalisation of Rs 4 lakh crore, joining an elite group of 13 other stocks with similar valuations above this mark.
These include Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, ITC, HUL, L&T, Bajaj Finance, and HCL Technologies.
According to an ET report, Maruti Suzuki India’s stock has soared over 50% in the past year, with a 23% increase in 2024 so far. While its 1-year returns lag behind Nifty Auto’s 77%, it has outperformed the index year-to-date, as Nifty Auto’s returns stand at just over 14% this year. The surge in Maruti Suzuki India’s share price is partly attributed to the weakening Japanese yen, which hit a 34-year low against the dollar recently.
Also Read | Top SME IPOs based on returns: Why holding smaller stocks for a longer duration makes sense
The yen’s decline to 151.97 per dollar, the lowest since 1990, follows the Bank of Japan’s interest rate hike after years of loose monetary policy. Maruti benefits from the weaker yen as its import costs decrease.
The company posted robust December quarter numbers, with a consolidated net profit increase of over 33% to Rs 3,206.8 crore and a 14.5% YoY revenue growth to Rs 33,512.8 crore.
These include Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, ITC, HUL, L&T, Bajaj Finance, and HCL Technologies.
According to an ET report, Maruti Suzuki India’s stock has soared over 50% in the past year, with a 23% increase in 2024 so far. While its 1-year returns lag behind Nifty Auto’s 77%, it has outperformed the index year-to-date, as Nifty Auto’s returns stand at just over 14% this year. The surge in Maruti Suzuki India’s share price is partly attributed to the weakening Japanese yen, which hit a 34-year low against the dollar recently.
Also Read | Top SME IPOs based on returns: Why holding smaller stocks for a longer duration makes sense
The yen’s decline to 151.97 per dollar, the lowest since 1990, follows the Bank of Japan’s interest rate hike after years of loose monetary policy. Maruti benefits from the weaker yen as its import costs decrease.
The company posted robust December quarter numbers, with a consolidated net profit increase of over 33% to Rs 3,206.8 crore and a 14.5% YoY revenue growth to Rs 33,512.8 crore.
