Maruti rebounds after corrective rally

DALAL STREET SPIKES

Car major Maruti Udyog surged 4.4 per cent to Rs 425.95 after yesterday's correction in stock prices. The stock had corrected nearly 3 per cent in yesterday's trading on profit booking.

According to reports, the company is considering increasing car prices to meet the higher input costs and the costs of new emission standards. More than 26.75 lakh MUL shares were traded on BSE on Thursday.

Gains were also registered by other auto stocks. Ashok Leyland was up 3.19 per cent to Rs 21.05, Tata Motors was up 2.24 per cent to Rs 489.10, Bajaj Auto was up 2.90 per cent to Rs 1,052.55 and TVS Motor was up 3.68 per cent to Rs 93.

Two-wheeler major Hero Honda also gained 1 per cent to Rs 474. Analysts said, the sharp drop in crude oil prices also aided the rebound in the counter.