Maruti Suzuki Rises Nearly 1% On Hike In Car Prices

Maruti Suzuki shares gained nearly 1 per cent in early trading after the country's largest carmaker said on Monday that it has increased the prices of select models by up to Rs 34,000 due to rising input costs. At 9:39 am, the shares of Maruti Suzuki were trading at Rs 7874.30, higher by 0.7 per cent, on the BSE. The shares have touched an intra-day high of Rs 7,990 and a low of Rs 7,863.30 thus far.

The new prices are effective from January 18, 2021, Maruti Suzuki said in a regulatory filing to the stock exchanges on Monday.

Last month the company had said it would increase prices of its vehicles from January to offset the adverse impact of rising input costs.

Meanwhile, the automaker had reported a 20.2 per cent increase in sales to 1,60,226 units for the month of December. The company had sold 1,33,296 units in December 2020.

The BSE Sensex was at 48,907.10, higher by 334.27 points and the NSE Nifty was at 14,383.55, up 102.05 points or 0.72 per cent.