Shares of Maruti Suzuki India Ltd. gained marginally on Wednesday as the company reported a 6% decrease in total sales at 1.68 lakh units in June as against 1.79 lakh units in the same period last year.
The company said its domestic sales decreased 12% during the month to 1.3 lakh units as against 1.5 lakh units in June, as per an exchange filing on Tuesday.
Sale of mini-segment cars, including Alto and S-Presso, decreased 37% to 9,395 units as compared to 6,414 units in the year-ago month, Maruti Suzuki said in an exchange filing.
The car maker said sales of the compact segment comprising Swift, Baleno, Celerio, Ignis, WagonR and Dzire fell 17% to 54,177 units in June as against 64,049 units last year.
Sales of the company's mid-sized sedan Ciaz, which was launched in October 2014, nearly doubled to 1,028 units.
Sales of utility vehicles, including Grand Vitara, Brezza, Fronx, Invicto, Jimny and Ertiga, fell 8% to 47,947 units in June, from 52,373 units in the corresponding month last year.
Maruti Suzuki India Share Price
Shares of Maruti Suzuki gained marginally as much as 0.66% to Rs 12,524 apiece. They pared gains to trade 0.11% higher at Rs 12,456 apiece, as of 10:12 a.m. This compares to a 0.05% advance in the NSE Nifty 50.
The stock has risen 3.42% in the last 12 months and 14.69% year-to-date. Total traded volume so far in the day stood at 0.11 times its 30-day average. The relative strength index was at 49.60.
Out of 46 analysts tracking the company, 37 maintain a 'buy' rating, six recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 8.6%.
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