Maruti Suzuki drops over 3%

Profit booking has pulled down the stock price of Maruti Udyog, despite the company clocking very good sales numbers for the month of June’18.

The company’s total sales rose over 36% (YoY) to 1.44 lakh units of which domestic sales showed a rise of 45.5% at 1.35 lakh units and exports in fact dropped 29% to less than 9.500 units.

In terms of models. Alro and WagonR saw a 15% rise, with compact segment sales rising 77%. It’s sales of sedan Ciaz fell 60% while Vitara Breeza sales rose 39%.

Its light commercial vehicle, Super Carry showed a whopping 689% jump, selling 1626 units.

These sales numbers were announced yesterday, Sunday and today morning it opened at a lower rate for trading at Rs.183, down from previous close of Rs.188. It is currently at its intra day low point at Rs.182, down over 3%.