Share price of India's largest carmaker Maruti Suzuki surged 6.88 per cent to Rs 8600.60 on Tuesday after the company announced better than expected third quarter results.
Maruti Suzuki reported a net profit of Rs 1,011.3 crore for the third quarter of the current financial year, which is 47.90 per cent lower when compared with Rs 1,941.4 crore recorded during the corresponding quarter of last fiscal.
The market analysts had projected even lower profit as the company's production was disrupted during the quarter due to a global shortage in the supply of electronic components.
Trading in Maruti Suzuki share started in the red at Rs 8047.00 against its previous day's close at Rs 8047.30. The scrip slumped to a low of Rs 7900.00 and traded nearly flat till the Q3 results were announced.
Maruti Suzuki shares rose sharply after announcement of the result in the afternoon. Maruti Suzuki share price surged to a high of Rs 8661.60 in the intra-day.
( With inputs from ANI )
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