Maruti Suzuki was in focus on Wednesday after CLSA gave its outlook on the stock.
The global research firm highlighted that Kia was gearing up for an India launch, but it does not see the company as a big threat for Maruti. It also said that Maruti successfully defended its turf by enhancing competitive advantages.
The company was in the news recently after its compact hatchback WagonR crossed the 2 million cumulative sales mark, 18 years after the model was launched in the country.
WagonR is the company’s third model to achieve the feat after Maruti 800 and Alto. Launched in 1999, WagonR continues to feature among the top five best-selling cars in the country for over the last 10 years.
The model had crossed its first million sales in 2011, nearly 133 months after its launch. However, it managed to scale the next million in just 79 months. “Since its inception, WagonR has been ahead of its peers.
At 13:18 hrs Maruti Suzuki India was quoting at Rs 7,836.50, down Rs 49.05, or 0.62 percent, on the BSE. It has touched an intraday high of Rs 7,984.00 and an intraday low of Rs 7,825.00.