Maruti Suzuki’s shares rose around 3.3 percent to a four-year high on Monday. The number one automobile manufacturer in India hopes earnings would improve as the sales for passenger vehicles have increased and even the margins have increased due to the depreciating Japanese Yen.
The company is the market leader in the car segment. It was earlier known as Maruti Udyog Limited till 2007 which brought revolution in automobile industry in India. The company was formed in 1981 and the production of its first car "Maruti 800" kicked off in 1983. Since then, the organisation has produced several cars.
The automaker occupies a noteworthy position in the Indian car market due to its durability, longevity and reliability. It offers many models such as Swift, Swift DZire, Maruti 800, Alto, WagonR, Estilo, A-star, Ritz, SX4, Omni, Eeco, Gypsy, Grand Vitara and Kizashi. All the models are manufactured in its Gurgaon plant except for the Swift, Swift DZire, A-star and SX4 which are manufactured in Manesar. Grand Vitara is imported from Japan as a completely built unit (CBU). The company has disseminated throughout the country. There are several service stations across the country.
The traders added that CLSA's upgrade of Maruti Suzuki Ltd to 'buy' from 'sell' also helped boost the stock. On Monday, the shares were up 3.1 percent at 1,593 rupees. Prior to this, the highest point reached was on December 15, 2009.