Maruti hits a life-time high

Maruti Suzuki has hit a life-time high today at Rs.3434, after which it is now barely hanging onto the green at Rs.3415, up just 0.3%.

The stock hit a high after it announced having received the single largest order from the Indian Army for its Gypsy vehicle. The order is for 4000 vehicles though financial details were not know as the order was confirmed through tendering process.

The company has stated that the Indian Army is amongst the major buyers of its vehicles since 1991. Starting with around 1,500 Gypsys the first year, it has sold about 31,000 of these to the Army. The latest order is the single largest for the Gypsy from the army.  22% of Maruti’s total production of Gypsy’s till date has been for the Army and this new order has come after two years, given the ‘austerity’ drive initiated by the Govt since 2012.

Of the order for 4000 vehicles, Maruti has dispatched 2,100 units over the past two months and the balance 1800 are to be delivered over next 4-5 months.