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Maruti Suzuki shares cross Rs 12,000 mark; CLSA expects carmaker to maintain top position in CNG space

In a recent report, brokerage firm CLSA highlighted that Maruti will maintain its top position in the CNG PV segment with a 72 percent share. The brokerage firm estimates the market share of CNG PVs to rise from 15 percent in FY2024 to 22 percent in FY2030.

March 20, 2024 / 02:42 pm IST
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The company sold a total of 4,65,911 vehicles during Q3FY24, up 8.2 percent YoY. Sales in the domestic market were 4,03,929 units and exports were 61,982 units.

Shares of India's largest carmaker Maruti Suzuki crossed the Rs 12,000 mark during mid-day trades on March 20. At 1:40 pm, the stock was trading at Rs 11,992.50, around 3.41 percent higher.

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In a recent report, brokerage firm CLSA highlighted that Maruti will maintain its top position in the CNG PV segment with a 72 percent share. With the rise in CNG passenger vehicles, stocks such as Maruti Suzuki and Tata Motors will benefit, the brokerage firm said. CLSA estimates the market share of CNG PVs to rise from 15 percent in FY2024 to 22 percent in FY2030. This growth, the brokerage said, could be attributed to lower running costs of CNG Vehicles.

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