Maruti shares rally 4 pc on compact SUV launch

Shares of Maruti Suzuki India today went up 4 per cent after the carmaker launched its much- awaited model 'Vitara Brezza' at an introductory price range of Rs 6.99 lakh and Rs 9.68 lakh (ex-showroom Delhi).
The stock of the country's largest carmaker rose by 4 per cent to settle at Rs 3,600 on BSE. Intra-day, it went up by 4.11 per cent to Rs 3,603.90.
Maruti was the top gainer among the 30-Sensex blue-chip stocks.
At NSE, shares of the company jumped 3.28 per cent to close at Rs 3,576.40.
Led by the rise in the stock, the company's market valuation surged by Rs 4,182.82 crore to Rs 1,08,748.82 crore.

"We didn't have presence in one of the most key segments of the Indian market, that is compact SUV. Vitara Brezza marks our entry into that segment," MSI MD and CEO Kenichi Ayukawa had said yesterday.

Vitara Brezza is one of those products in which the company's Indian engineers have played a bigger role in designing and development as parent Suzuki looks to enhance its base here.
Meanwhile, Suzuki Motor Corporation (SMC) today launched in the Japanese market the premium hatchback Baleno which has been manufactured in India by its subsidiary Maruti Suzuki India.
It is for the first time that MSI made model is being exported to Japan where its parent SMC is based.