Maruti Suzuki rebounds over 8% after yesterday fall

Posted By: Religare
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Maruti Suzuki rebounds over 8% after yesterday fall
Shares of country's largest car maker Maruti Suzuki India jumped over 8 per cent in early trade on Bombay Stock Exchange (BSE) after reporting strong numbers for third quarter ended December 31, 2013.

The company's third quarter results beat analyst estimates as its net profit rose 36 per cent to Rs 681 crore for the third quarter ended December 31 on favourable exchange rate, higher localization initiatives and consistent rural sales.

Retreating from yesterday's low, shares of company gained as much as 8.41 per cent to trade at Rs 1694.75 a piece on the BSE. In a similar fashion, shares of the company climbed 6.03 per cent to Rs 1,660.50 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 20,798.91, up 115.40 points or 0.56 per cent at 10:10 hours.

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