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21st of January 2018

Economy



Maruti crosses Rs 10,000 mark for first time, becomes 6th firm to cross Rs 3 trillion market cap | Latest News & Updates at Daily News & Analysis

Maruti Suzuki India on Wednesday touched Rs 10,000 per share mark for he first time ever. With the new milestone, the firm has now become the country's sixth company to cross Rs 3 trillion market capitalization. 

Besides Maruti Suzuki, firms that have highest market cap is Reliance Industries, TCS, HDFC Bank, ITC and HUL. The company has surpassed biggies like SBI, HDFC, Infosys, Bharti Airtel and ICICI Bank. 

Maruti Suzuki India at present has market capitalisation of Rs 2.75 lakh crore. 

Maruti's shares hiked around 84 per cent in 2017. The stock touched a fresh record high of Rs10,000 on the BSE, up 1.5% from its previous close with a market cap of Rs3.01 trillion. The Sensex index was trading marginally higher by 0.07%; year-to-date, it rose 28%.

However, the recent sales numbers of the firm were according to the experts' expectations. Maruti Suzuki India has sold 1.54 lakh units during the month, higher by 14.1 per cent over 1.35 lakh units sold in November 2016. 

Meanwhile,  Maruti Suzuki India plans to increase prices across its models by up to 2% from January in order to partially offset rise in input costs.

The company currently sells a range of models, from hatchback Alto 800 with price starting at Rs 2.45 lakh to crossover S-Cross priced at Rs 11.29 lakh (all prices ex- showroom Delhi).

When contacted, a company spokesperson told PTI that the company is revising prices as there has been a gradual increase in commodity prices over the past few months.

"We were absorbing the impact of small fluctuations till now. But with gradual increase in commodity prices we will have to pass on the increase to the customers from January," the spokesperson said.

When asked about the quantum of increase, the spokesperson said: "The prices would go up to 2% across the product portfolio from next month." The quantum of price increase will vary based on the different models and fuel specifications.

Various automakers such as Tata Motors, Ford, Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu have already announced price hikes from early next year. 

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