Maruti shares rise, weaker yen seen boosting margins

Shares in Maruti Suzuki India Ltd rose as much as 4.5 percent on Friday, on hopes a weaker yen currency would improve margins by reducing the costs of importing auto parts from Japan after the Bank of Japan unleashed unprecedented monetary expansion.

[caption id=“attachment_687339” align=“alignleft” width=“380”] Reuters[/caption]

The yen slid to a 3-1/2 year low against the dollar on Friday, after suffering its biggest one-day tumble since late 2008 on Thursday, on the back of the BOJ’s radical campaign to attack deflation.

Maruti Suzuki shares were up 4.4 percent at 11 am.

Reuters