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Shares of Maruti Suzuki India tumble over 4% after company announces price hike across various models

New Delhi: Shares of Maruti Suzuki India Thursday tumbled over 4 percent after the company announced price hike across various models.

The scrip fell 4.63 percent to close at Rs 7,209.7 on the BSE. Intra-day, it hit a low of Rs 7,178.3, a decline of 5.04 percent.

Representational image. Reuters.

Representational image. Reuters.

On the NSE, the stock plummeted 4.67 percent to settle at Rs 7,201 apiece. The shares hit a low of Rs 7,180 and a high of Rs 7,486.30 in the intra-day trade.

Among the Sensex constituents, Maruti Suzuki was the worst hit.

The auto major's stock had slumped over 2 percent on the bourses Wednesday.

Maruti Suzuki had announced Wednesday it will increase prices of its vehicles across various models from next month to offset adverse impact of increase in commodity prices and foreign exchange rates.

The company, however, did not specify the range by which the prices of its vehicles would be increased.

Besides Maruti, other automobile firms showed a bearish trend Thursday.

Tata Motors shed 4.02 percent, followed by Bajaj Auto 1.55 percent, Hero Motocorp 1.23 percent.

Overall auto index at BSE fell by 2.26 percent to close at 19,824.18.


Updated Date: Dec 06, 2018 18:43 PM

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