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Maruti shares hit four-year high; earnings seen improving
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A worker cleans a Maruti Suzuki Swift Dzire car as he is being reflected on a car at the company's stock yard at Sanand in Gujarat October 30, 2012.
Credit: Reuters/Amit Dave/Files
MUMBAI |
MUMBAI (Reuters) - Maruti Suzuki shares rose 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(MRTI.NS) to 'buy' from 'sell' also helped boost the stock, traders said.
At 2:31 p.m., Maruti shares were up 3 percent to 1,591.5 rupees after earlier touching their highest since December 15, 2009.
(Reporting by Abhishek Vishnoi and Manoj Dharra; editing by Rafael Nam)
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