Tech view: Maruti could rally up to Rs 10,700 in the near-term

The share price of Maruti crossed Rs 10,000 mark for the first-time ever on Wednesday, after the company launched Invicto - its first car in Rs 20 plus lakh segment.

The share price of Maruti crossed Rs 10,000 mark for the first-time ever, and hit an intra-day high of Rs 10,037 on the BSE on Wednesday after the company launched its new car - the Invicto - its first car in Rs 20 plus lakh segment.

The company's Invicto, a multi-purpose vehicle (MPV), prices starts at Rs 24.79 lakh (ex-showroom). Even before announcing the price, reports suggest that the company had received bookings for up to 6,000 units.

Maruti Suzuki India is expecting to double its revenues by 2030-31 (FY31) from the FY22 level through more sales, Managing Director and