Maruti Suzuki, Tata Motors share prices jump ahead of Q3 results

Shares of auto majors Maruti Suzuki and Tata Motors made strong gains on January 29 ahead of their respective Q3 results due later today. Maruti Suzuki share price was up 1.4 percent at Rs 12,290 on NSE amid strong volumes. The stock climbed past its 200-day average today. Tata Motors share price jumped 2.5 percent to trade at Rs 746 on NSE amid strong volumes.

According to Moneycontrol poll of brokerages, Tata Motors is expected to report a 7 fall in net profit at Rs 6,525 crore, but a 6 percent rise in revenue to Rs 1,16,873 crore. Maruti Suzuki is anticipated to report a 15 percent jump in net profit to Rs 3,596 crore, and 16.5 percent growth in revenue at Rs 38,838 crore.

Notably, Maruti Suzuki on January 29 announced that its board has approved the proposal to merge its wholly-owned subsidiary Suzuki Motor Gujarat Private Limited with the company.

In another exchange filing, the auto company announced that its board has approved the reappointment of Hisashi Takeuchi as Managing Director and Chief Executive Officer for a period of three years, effective from April 1. Further, Mahesh Sahu's re-appointment as an independent director for another five years, with effect from May 14, has also been approved by the board. The decisions however are subject to approvals.