Maruti, M&M up on November vehicle sales

Mon Dec 3, 2012 1:59pm IST

A worker cleans a Maruti Suzuki Swift Dzire car as he is being reflected on a car at the company's stock yard at Sanand in the western Indian state of Gujarat October 30, 2012. REUTERS/Amit Dave

A worker cleans a Maruti Suzuki Swift Dzire car as he is being reflected on a car at the company's stock yard at Sanand in the western Indian state of Gujarat October 30, 2012.

Credit: Reuters/Amit Dave

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Reuters Market Eye - Shares in Maruti Suzuki India Ltd(MRTI.NS) and Mahindra & Mahindra Ltd gained on strong November vehicle sales.

Maruti's November vehicle sales grew 12.5 percent on year to 103,200 units, sustaining the recovery in sales witnessed in October.

Dispatches rose on the back of festive demand, particularly for diesel vehicles and higher exports, brokerage Anandrathi said in a note.

Mahindra & Mahindra reported a 18 percent rise in November sales to 48,143 vehicles and continued on a strong trajectory, boosted by new launches and a large diesel portfolio, the brokerage added.

Maruti shares rose 1.1 percent at 1,491 rupees, while Mahindra & Mahindra shares gained 1.2 percent at 958 rupees.

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