"We have decided to pass on the entire benefit of the excise duty cut to our customers. We have judiciously spread out the price cut across our product portfolio ranging from 2% to 5% with the maximum reduction being Rs 4,500," the company said in a release to the BSE late Tuesday.
It may be recalled that excise duty on various vehicle segments were lowered in the interim budget with excise duty on small-cars, two-wheelers and commercial vehicles reduced to 8% from 12% earlier.
Over 78,000 shares were traded on both the stock exchanges so far.
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