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Maruti Suzuki to hike prices by up to Rs 34,494; stock dips 0.5%

Shares of Maruti Suzuki are down over 0.5% to Rs 3,593 in an otherwise firm market after the car maker stated that it will raise prices on its vehicles by up to Rs 34,494 to pass on the impact of infrastructure cess announced in the Union Budget.

As Smart Hybrid models (Ciaz SHVS and Ertiga SHVS) are exempt from the Infrastructure Cess, there is no change in the prices of these models. CLICK HERE FOR FULL REPORT

The stock opened at Rs 3,621 and touched an intra-day low of Rs 3,580. Over 4 lakh shares changed hands on the counter on the BSE and NSE so far.