Maruti Suzuki hits record high on strong August sales

Shares of Maruti Suzuki were up nearly 3% at Rs 2,864, after hitting a record high of Rs 2,868, amid better-than-expected sales growth in August led by the compact car segment.

Total sales during August 2014 increased 27% to 110,776 units compared to 87,323 units in August 2013.

Sales of passenger vehicles were up 30% to 82,823 units in August 2014 compared to 63,499 in August 2013 driven by the compact car segment (Swift, Ritz, Celerio, Dzire) which surged 53% and the super compact segment (Dzire Tour) which shot up 114%, the company said in a release.

Export sales in August 2014 grew 10.3% to 12,472 units compared to the same month last year, the release said.

The stock opened at Rs 2,800 and hit a record high of 2,868 on the BSE. Over 130,000 shares were traded on both the stock exchanges so far.

Maruti Suzuki India Limited