Maruti Suzuki shares rise over 2% on higher production in November after 9 straight months of output cut

New Delhi: Shares of Maruti Suzuki India on Monday rose over two percent after the automaker reported an increase in total production for November. The MSI stock was trading 2.19 percent up to Rs 7,032.90 on the BSE. On the NSE, the scrip gained 1.99 percent to Rs 7,024.05, a PTI report said. Maruti Suzuki India (MSI) increased its production in November by 4.33 percent, after having reduced output for nine straight months due to lower demand. The company produced a total of 1,41,834 units in the month as against 1,35,946 units in the year-ago period, MSI said in a regulatory filing on Friday.  Passenger vehicles’ production last month stood at 1,39,084 units as against 1,34,149 units in November 2018, an increase of 3.67 percent, it added. Production of mini and compact segment cars, including Alto, new WagonR, Celerio, Ignis, Swift, Baleno and Dzire stood at 1,02,185 units as against 95,883 units in November last year, up 6.5 percent. However, production of mini segment cars, such as Alto and S-Presso, fell to 24,052 last month, compared with 30,129 in the year-ago month. Production of utility vehicles such as Vitara Brezza, Ertiga and S-Cross, however, increased by 18 percent to 27,187 units as compared to 23,038 units a year ago. Mid-sized sedan Ciaz saw its output rise to 1,830 units in November from 1,460 units in the same month last year. Light commercial vehicle Super Carry’s production increased to 2,750 units last month from 1,797 units in November 2018, the filing said. In October, the automaker had cut its production by 20.7 percent to 1,19,337 units. Similarly, in September the automaker reduced its production by 17.48 percent to 1,32,199 units.