Maruti Suzuki gains on eyeing CNG, hybrid cars

Maruti Suzuki, the market leader in the passenger car space, is planning to use all kinds of green technologies, including CNG and hybrid cars to reduce crude oil consumption.

This initiative was taken considering the rising import of oil. The company is planning to cut oil imports and reduce vehicular pollution.

The company had started work in this direction many years ago with the introduction of factory-fitted CNG vehicles. The production of such cars increased by 40 per cent in 2018-19 and this year the target is increased by near 50 per cent.

The company has recently posted sales numbers for the month of July 2019 and posted a decline of 33.5 per cent in total sales in the month of July. It sold a total of 1,09,264 units in July 2019 which includes 1,00,006 units in the domestic market and 9,258 units of exports. It has registered de-growth of 35.1 per cent YoY in sales of Domestic Passenger Vehicles. Also, exports sales de-grew by 9.4 per cent YoY.

Today, the stock opened at Rs. 5,547 per share and made an intraday high of Rs. 5,714, up by 2.5 per cent. At 12:32 hours, the stock was trading at Rs. 5,688 per share on the BSE.