Maruti Suzuki gains over 2% after price hike
Shares of Maruti Suzuki India gained more than 2 per cent on Tuesday after the company announced a rise in the prices of select models. The increased prices were up to Rs 34,000 to offset the adverse impact of rising input costs, the company said.
The stock jumped 2.24 per cent to Rs 7,990 on the BSE. At the NSE, it gained 2 per cent to Rs 7,990.30
India’s largest carmaker said in a regulatory filing that it is increasing the prices owing to an increase in various input costs. The new prices are with effect from January 18, 2021.
The price change varies across models and ranges up to Rs 34,000 (ex-showroom-Delhi), it added.
Maruti Suzuki is a subsidiary of the Japanese automotive manufacturer Suzuki Motor Corporation founded in 1981. As of July 2018, it had a market share of 53% in the Indian passenger car market.