Maruti Suzuki Stocks Up in Intra-day Session Post Announcement of Company’s Agreement with Western Railways
Shares of Maruti Suzuki India Limited today rose over 1% in intra-day session as the company made an announcement last Saturday about an agreement with western railways for transportation of cars and spares between its manufacturing units. And it also announced that as part the agreement, first such train (rake) loaded with 125 Maruti-Suzuki cars in 25 NMG coaches left the Maruti plant in Detroj to Nidvanda in Bengaluru Division of South-Western Railway.
This agreement is expected to benefit the carmaker’s new manufacturing facility near Becharji station in Patan district which produces around 250,000 vehicles per annum which had plans to increase the production capacity in future.This agreement is expected to facilitate possibility for increase in production and fast deployment/delivery of goods in market in near future and this announcement comes shortly after the company beats utility vehicles manufacturer Mahindra & Mahindra by capturing 28.6% market share while later has only 25.2% market share which at one point in the last decade held over 55% market share as per data from a survey conducted by Society of Indian Automobile Manufacturers.
MSIL is breaking record with its sale of the latest edition of Swift close to earning the tag of the Indian car that logged 100,000 bookings in the shortest time — just a little over two months — trumping compact sedan stablemate ‘Dzire’, which had touched the milestone in 12-14 weeks. With the company’s product gaining popularity in market and rising demand for its utility and passenger vehicle in both budget and premium segments and the company’s current agreement with western railways we can expect good and positive numbers in quarterly statements to come.
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