Maruti Suzuki: From Rs 10,000 per share to one million unit sales milestone

Maruti Suzuki India Limited, one of India’s leading automobile manufacturers, announced its monthly sales data for September 2023 on October 01.

According to the press release, the company achieved a total sales figure of 181,343 units in September. This includes 153,106 units sold in the domestic market, 5,726 units sold to other OEMs, and 22,511 units exported.

From April to September 2023, the company reached a remarkable milestone by recording a total sales figure of 1,050,085 units. Interestingly, this marks the first time the company has exceeded one million units in sales within a six-month period.

Sales Figure:

Today, the shares of the company tumbled approximately 2.8% while the broader indices opened flat but fell sharply during the early morning trading session. The stock of the company opened the day at Rs 10,685 per share on the BSE, which is 0.8% higher than the previous day’s closing price of Rs 10,602 per share. It hit an intraday low of Rs 10,308 per share, and as of writing this article, it is trading at Rs 10,366 apiece.

Furthermore, the shares reached a significant milestone of Rs 10,000 per share on July 05, 2023, but they couldn’t sustain that level and slipped to Rs 9,254 per share on August 16. From there, they showed a remarkable surge, hitting an all-time high of Rs 10,720 last month on September 25, 2023.

When analysing the share price movement of Maruti Suzuki over the years, it took approximately two decades or 7,296 days for the share price to reach Rs 10,000 from Rs 200, which was recorded in July 2003. Additionally, the share price reached the Rs 5,000 mark on August 16, taking roughly 7 years from this price to double and ultimately reach Rs 10,000.

Given the current stock price and the company’s track record of business achievements, it positions itself as a strong contender among its peers. Investors should consider keeping a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.