Maruti Suzuki shares in Monday's trade surged over 3% to an intra-day high of Rs. 7105.85 after the company increased output in November following nine-straight months of production cuts. The higher production during the month against the corresponding month a year ago was led by mild-recovery seen in sales volume in the festive month of October.
In a filing to the BSE, the auto major reported a 4.33% y-o-y jump in production in November month to 141,834 units. The production of its passenger vehicle increased from 1,34,149 units to 139,084 units YoY.
Earlier, Maruti announced that it will halt the production of diesel vehicles from April 1, 2020 and hence the available discount on such vehicles is attracting more and more consumers.
The management of the company last week stated that it would voluntarily and proactively recall some petrol Smart Hybrid Vehicle by Suzuki (SHVS) variants of Ciaz, Ertiga and XL6 vehicles, which have been manufactured between January 1 and November 21.
Maruti Suzuki stock last quoted at Rs. 7079.60, up Rs. 198.25 or 2.88%.