Maruti Suzuki India is trading higher by 2% at Rs 1,419 on reports that the company will increase price of its entire range of models by up to Rs 10,000 per unit from the next month primarily to mitigate the impact of rising input costs due to the Indian rupee depreciation.
The quantum of price increase will vary according to different models and fuel specifications, and will be effective from the first week of October; the PTI report suggests quoting the company’s chief operating officer (marketing and sales) Mayank Pareek.
The quantum of price increase will vary according to different models and fuel specifications, and will be effective from the first week of October; the PTI report suggests quoting the company’s chief operating officer (marketing and sales) Mayank Pareek.
The price hike comes on the expected lines and follows similar moves by the rival companies as the company aims to offset the impact of adverse currency movement on its margins, says analyst at Angel Broking in a note.
The stock opened at Rs 1,415 and touched a high of Rs 1,423 on NSE. A combined nearly 80,000 shares have changed hands on the counter so far on NSE and BSE.
The stock opened at Rs 1,415 and touched a high of Rs 1,423 on NSE. A combined nearly 80,000 shares have changed hands on the counter so far on NSE and BSE.
