Maruti Suzuki India witnessed a surge in demand on Dalal Street as the price hike announced by the automotive giant came into effect on Tuesday, January 16. The stock of the leading automaker, known for popular models like Baleno, Swift, WagonR, Brezza, and Ertiga, rose by Rs 154.7 or 1.5 percent, reaching Rs 10,241.2 apiece on BSE, marking its second consecutive session gain.
In a regulatory filing, the company stated that the estimated weighted average increase across its models is approximately 0.45 percent. This indicative figure was calculated using ex-showroom prices of models in the national capital.
The initial notification of the price hike was made by Maruti Suzuki India in November of the previous year, attributing the decision to increased cost pressure stemming from overall inflation and rising commodity prices. While the company strives to minimize costs, it acknowledged the possibility of passing on some increase to the market.
This development coincides with investors on Dalal Street closely monitoring the ongoing earnings season for insights, as India Inc commenced a fresh results season last week. Maruti Suzuki India is yet to announce the date for releasing its financial results for the December quarter.
