Maruti Suzuki shares zoom after auto giant announces price hikes citing cost pressure
The news of Maruti Suzukis decision to raise prices followed similar announcements from homegrown rival Tata Motors and German luxury carmaker Audi as rising input costs eat into the margins for the entire auto space.
Maruti Suzuki India shares were in high demand on Tuesday, as investors returned to trade after a long weekend, after the country's largest carmaker announced a hike in the prices of its cars. The stock of Maruti Suzuki India—the country's largest carmaker—gained by as much as Rs 38.8, or 0.4 per cent, to Rs 10,556.9 apiece in early deals on BSE.
On Monday, Maruti Suzuki said it planned to increase the prices across its cars in January 2024 citing "increased cost pressure driven by overall inflation and increased commodity prices".
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