Maruti shares gain nearly 3% on August sales data

The logo of Maruti Suzuki India Limited is pictured on a car. Credits: Reuters

Shares of Maruti Suzuki India (MSI) on Tuesday gained nearly 3 per cent after the company reported 17.1 per cent increase in sales in August.

The company’s stock rose by 2.63 per cent to Rs 7,018 on the BSE. Its shares jumped 2.61 per cent to Rs 7,018.70 on the NSE.

Earlier in the day, the country's largest carmaker reported 17.1 per cent increase in sales at 1,24,624 units in August.

The company had sold 1,06,413 units in August last year, MSI said in a statement.

Domestic sales increased by 20.2 per cent to 1,16,704 units last month, as against 97,061 units in August 2019, it added.

Sales of mini cars comprising Alto and WagonR stood at 19,709 units as compared to 10,123 units in the same month last year, up 94.7 per cent