Maruti Suzuki share price jumps 5% after 30% rise in December 2024 sales. Do you own?

Maruti Suzuki share price jumped nearly 5% on Thursday after the company reported a significant rise in its auto sales for the month of December 2024. Maruti Suzuki shares rallied as much as 4.96% to ₹11,734.90 apiece on the BSE.

Maruti Suzuki shares were among the top gains on Nifty 50 and BSE Sensex constituents.

The auto major reported a 30% rise in total wholesales at 1,78,248 units in December 2024 compared to 1,37,551 units in the same month a year ago.

Overall domestic sales, including that of light commercial vehicles and supplies to Toyota Kirloskar Motor, increased 27.25% to 140,829 units last month against 110,667 units in December 2023, Maruti Suzuki India said in a regulatory filing.

The company’s exports increased 39.18% to 37,419 units in December 2024, as against 26,884 units, year-on-year (YoY).

Total domestic passenger vehicle (PV) sales were at 1,30,117 units compared to 1,04,778 units in the same month a year ago, up 24.18%, it added.

Maruti Suzuki Share Price Outlook

On the technical front, Maruti Suzuki stock has given a breakout on the weekly chart and is showing a bullish trend.

“On the weekly chart, Maruti Suzuki shares have given a breakout at ₹11,400 level. One can buy Maruti Suzuki shares for a short-term target of ₹12,100, keeping a stop loss at ₹11,200 - 11,300 levels. The next target for the stock would be ₹12,600,” said Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi.

Maruti Suzuki share price has dropped 10.8% in the past three months, but has gained more than 15% in one year. The automobile heavyweight has risen 40% in two years.

At 1:00 PM, Maruti Suzuki shares were trading 4.89% higher at ₹11,770.00 apiece on the BSE.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.