Maruti Suzuki strengthens as it looks forward to reach full capacity by October

Maruti Suzuki is currently trading at Rs. 1184.50, up by 10.05 points or 0.86% from its previous closing of Rs. 1174.45 on the BSE.

The scrip opened at Rs. 1178.10 and has touched a high and low of Rs. 1188.70 and Rs. 1173.20 respectively. So far 10643 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1428.20 on 16-Mar-2012 and a 52 week low of Rs. 905.55 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 1188.70 and Rs. 1128.05 respectively. The current market cap of the company is Rs. 34241.62 crore.

The promoters holding in the company stood at 54.21% while Institutions and Non-Institutions held 36.71% and 9.08% respectively.

Maruti Suzuki, country’s largest car maker, expects to arrive at full capacity levels at its troubled Manesar plant by October. It aims to complete hiring of new workers and conversion of some existing contract workers to permanent positions by September-end, by when a second shift will also be started at the plant.

Due to July’s violence around 500 permanent workers had been dismissed by Maruti in the August. So the new workers will join the 1,100-permanent labour forces, who have already returned to the factory since production resumed on August 21, after over a month of stoppage. The Manesar factory last made about 581 units on a single day’s work across two production lines. At full capacity and with about 3,300 workers, the facility can churn out 1,900 cars units a day of the Swift, Dzire, A-Star and SX4 models.

Recently, car market leader has unveiled a refreshed avatar of Ritz Diesel. Priced attractively at Rs 5.31 lakh onwards, the new Ritz Diesel is sure to entice new age buyers who are looking for contemporary design, unmatched performance and superb fuel efficiency.