India's Maruti shares hit 4-yr high; earnings seen improving
MUMBAI Jan 7 (Reuters) - India's Maruti Suzuki shares rose as much as 3.3 percent to a four-year high on Monday on hopes earnings would improve due to rising sales for passenger vehicles, while margins were also seen increasing due to the depreciation in the Japanese yen.
CLSA's upgrade of Maruti Suzuki Ltd to 'buy' from 'sell' also helped boost the stock, traders said.
At 0451 GMT Maruti shares were up 3.1 percent at 1,593 rupees after earlier touching their highest since Dec. 15, 2009. (Reporting by Abhishek Vishnoi and Manoj Dharra; editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
- UPDATE 7-U.S. says Russia must pull convoy from Ukraine or face more sanctions
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- WHO warns of 'shadow zones' and unreported Ebola cases
- China gold exchange gains traction as yuan reforms stir interest
- Liverpool won't change attacking style says Rodgers
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article