Maruti Suzuki shares gained nearly 1.5 per cent during intraday trade after the company announced an increase in prices across all its vehicle models.
Maruti Suzuki has announced price increase across all its models from January 16, 2024. (Photo: AFP)
New Delhi,UPDATED: Jan 16, 2024 12:26 IST
Shares of Maruti Suzuki gained nearly 1.5 per cent during Tuesday’s intraday session after the country’s largest automaker announced that it will be increasing the prices of its vehicles, effective immediately.
With the move, the company’s estimated weighted average increase across models stands at around 0.45 per cent.
“An estimated weighted average of increase across models stands at around 0.45 per cent. This indicative figure is calculated using Ex Showroom prices of models in Delhi and will come into effect from 16th January, 2024,” the company announced in a stock exchange filing.
Shares of the automaker have gained 2.6 per cent over the past five trading sessions, but have fallen over 1 per cent in the past one month. In the past six month, Maruti Suzuki shares have gained over 5.4 per cent.
The increase in prices in line with the company’s earlier communication on November 27, 2023, where it said it plans to increase prices of its cars in January 24 on account of increased cost pressure, driven by overall inflation and increased commodity prices.
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“While the Company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market,” Maruti Suzuki said.
Published By:
Koustav Das
Published On:
Jan 16, 2024
English (US) ·