Shares of Maruti Suzuki India gained about 4 per cent on the bourses today, after the country’s largest carmaker reported a 6.54 per cent increase in its February sales.
The company has registered total sales of 1,18,949 units in February 2012, up from 1,11,645 units in the same month last year.
Reacting to the robust sales figures, the scrip rose to as high as Rs 1,316 in late morning trade. After paring some initial gains, the stock was trading 3.92 per cent higher at Rs 1,305.55 on the BSE.
The gains in Maruti shares were in sharp contrast to the overall weak trend in the stock market. The barometer Sensex was trading nearly 200 points down at 17,552.19 during mid-day.