Maruti Suzuki stock hits ₹10,000, market cap surpasses ₹3 lakh Crore
Maruti Suzuki, the renowned automobile manufacturer, achieved a significant milestone as its stock price soared past the ₹10,000 threshold, reaching a new record of ₹10,003. This remarkable surge put an end to the stock’s two-day losing streak, boosting investor confidence.
Closing the trading day with a notable increase of 3.61 percent, Maruti Suzuki shares settled at ₹9,994.50. On the Bombay Stock Exchange (BSE), the stock achieved a new 52-week high of ₹10,036.70, breaking the ₹10,000 mark for the very first time. As a result, the company’s market capitalization exceeded ₹3 lakh crore. Since the beginning of the year, the stock has exhibited a commendable growth of 19 percent.
Yesterday, Maruti Suzuki unveiled its latest flagship model, the Invicto MPV. Positioned as the premium offering in the company’s lineup, the Invicto comes with an introductory ex-showroom price range of ₹24.79 lakh to ₹28.42 lakh. Notably, it becomes the most expensive vehicle in Maruti’s portfolio. The Invicto, essentially a rebranded version of the Toyota Innova Hycross, aims to captivate customers with its exceptional features and performance.
The ex-showroom prices for the various variants of the Invicto MPV are as follows: The 7-seater Zeta+ variant is priced at ₹24.79 lakh, while the 8-seater Zeta+ variant is available at ₹24.84 lakh. The top-of-the-line Alpha+ variant, designed for accommodating 7 passengers, carries a price tag of ₹28.42 lakh.
Looking ahead, Maruti Suzuki India has set ambitious goals in line with the global growth strategy of its parent company, Suzuki Motor Corporation. The company’s Managing Director and CEO, Hisashi Takeuchi, stated that Maruti Suzuki aims to double its turnover to approximately ₹1.68 lakh crore by the fiscal year 2030-31, starting from the FY22 level.
Furthermore, Takeuchi emphasized the significant role India is expected to play in Suzuki Motor Corporation’s objective of achieving a global turnover of ₹4.32 lakh crore by FY30-31. This target represents a doubling of the ₹2.16 lakh crore turnover achieved in FY21-22.
In FY21-22, Maruti Suzuki India recorded net sales amounting to ₹83,798 crore.
Takeuchi also shared updates regarding the construction of the company’s new manufacturing facility in Kharkhoda, Haryana. The facility is progressing rapidly and is scheduled to inaugurate its first plant, boasting an annual manufacturing capacity of 2.5 lakh units, by 2025.
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Once fully operational, this expansive facility will have the capability to produce 10 lakh vehicles annually, establishing itself as one of the largest single-location manufacturing sites worldwide.
Furthermore, Takeuchi confirmed that the company has received Board approval for expanding its production capacity, enabling the manufacture of up to 10 lakh additional units per year alongside the Kharkhoda facility.
About Maruti Suzuki:
Maruti Suzuki India Limited serves as the Indian branch of Suzuki Motor Corporation, a renowned automotive manufacturer based in Japan. With an impressive market share of 42 percent in the Indian passenger car market, as of September 2022, Maruti Suzuki has established itself as a leader in the industry. The company has gained recognition for its production of exceptionally reliable and low-maintenance cars specifically designed to cater to the needs of the Indian market.
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