Shares of Maruti Suzuki rose more than 3 percent today after the company said it had raised prices on its models by 4.3 percent, effective immediately, to partially offset higher input costs.
Auto stocks rose 3.55 percent to Rs 8,369, compared with the previous close of Rs 8,082 on the BSE. The company’s market capitalization climbed to Rs 2.5 lakh.
The stock is trading above the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Large-cap stocks rose 3.36% for the year and 11.63% for the year.
A total of 19,000 shares of the company changed hands and the turnover on the BSE stood at Rs 1,621 crore.
The company has raised the prices of its models by a range of 0.1% to 4.3% due to increases in various input costs.
“The weighted average price increase in pre-showroom (Delhi) for each model was 1.7%. The new prices are effective from today,” the auto giant said.
MSI sells a range of cars from the Alto to the S-Cross, priced between Rs 3.15 lakh and Rs 1.256 lakh respectively.
Complete News Source : Business Today
