Maruti Suzuki India Share Price: Auto Maker’s Rs 925 Crore Green Push Powers Stock Surge

Maruti Suzuki India Limited (MSIL), witnessed a nearly 1% rise in its share price on June 4, following the announcement of a significant expansion in its solar power capacity at its Kharkhoda and Manesar facilities. 

The country's leading car manufacturer has commissioned a 20-megawatt peak (MWp) solar power plant at its upcoming manufacturing facility in Kharkhoda, Haryana, and added another 10 MWp at its existing Manesar plant. These additions have elevated MSIL's total installed solar capacity from 49 MWp to 79 MWp over the past year.

The company claims that this initiative is part of Maruti Suzuki's broader strategy to enhance the use of renewable energy in its operations. The company aims to achieve a solar power capacity of 319 MWp by the fiscal year 2030-31, backed by an investment of over Rs 925 crore. 

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Hisashi Takeuchi, Managing Director & CEO of MSIL, stated, “Aligned with our parent company, Suzuki Motor Corporation's Environment Vision 2050, and the Government of India's focus on renewable energy, we are systematically enhancing the use of renewable energy in our operations.”

In addition to solar power, MSIL is increasing the proportion of green power sourced from State Electricity Boards to further its transition towards renewable energy. The company expects the share of renewable energy in its total electricity consumption to reach nearly 85% by FY2030-31.

Through sustained efforts, the share of renewable sources of energy in the company's total electricity consumption is expected to reach nearly 85 per cent by FY2030- 31, Takeuchi said. "As we scale up production to four million units, we are committed to matching that growth with equally ambitious sustainable energy practices," he added.

At 10:45 am on June 4, Maruti Suzuki shares on the NSE were trading 0.95% higher at Rs 12,241 apiece. The stock has a 52-week high of ₹13,680 and a 52-week low of ₹10,725, with a market capitalization of ₹3.84 lakh crore.During 1:40 PM, the stock was trading at Rs 12,183, up by 45% from the previous day's close