Maruti shares hit four-year high; earnings seen improving
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)
- Tweet this
- Share this
- Digg this
- Nine reasons why India's WTO veto shocked the world
- India says WTO deal not dead, can sign in Sept if concerns addressed
- India's demands block $1 trillion WTO deal on customs rules
- Nifty falls most in nearly 3-1/2 weeks; Sensex down over 400 points
- In cat-and-mouse game, India uncovers new gold smuggling route
U.S. Secretary of State John Kerry told Prime Minister Narendra Modi on Friday that India's refusal to sign a global trade deal sent the wrong signal, and he urged New Delhi to work to resolve the row as soon as possible. Read | India block $1 trillion WTO deal