Maruti up 3% on attractive Ertiga pricing

Shares in Maruti Suzuki rose 2.9% on hopes for improved sales from its newly-launched vehicle Ertiga, which analysts said was priced low enough to make it competitive in the utility vehicle segment.

Maruti launched Ertiga at Rs 5,89,000, well below market expectations for a base price of Rs 7,00,000, with Deepak Jain, an analyst at brokerage Sharekhan predicting the auto maker could achieve sales of around 3,000 units.