Maruti Suzuki India is trading higher by 3.3% at Rs 1,530, its highest level since November 2010 on the BSE, on reports that the company will increase the prices of its vehicles across all models from January due to increasing pressure on its margins due to currency fluctuation.
"There will be a hike in the prices of our products. Quantum will vary depending on models, but it can be up to Rs 20,000," PTI report suggests, quoting Maruti Suzuki India Chief Operating Officer (Marketing & Sales) Mayank Pareek.
The stock opened at Rs 1,495 and has seen a huge trading activity on the counter. A combined 382,000 shares have already changed hands in morning trades against an average less than 500,000 shares that were traded daily on the BSE and NSE.