Maruti up on receding fears of additional duties
Reuters Market Eye - Maruti Suzuki(MRTI.NS) gains 4 percent on hopes the hike in diesel prices on Thursday would reduce chances of the government reducing its subsidy burden by imposing duties on diesel vehicles, which some investors had feared.
Although the incremental hikes in diesel prices could eventually shift consumers towards petrol models, analysts said in the near-term the measures should not dent sales of diesel models.
"Maruti is building up a capacity of additional 3 lakh (300,000) diesel engines, which will help it to assemble 7 lakh diesel cars by end of FY14," said Abhishek Gaoshinde, an analyst tracking the sector at Sunidhi Securities.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- UPDATE 2-Concordia finally heads for scrapyard after massive salvage operation
- Seven arrests made in $1.6 million StubHub cyberfraud case |
- Facebook beats Wall Street targets, stock hits record high |
- UPDATE 3-SEC's long path to money market fund reform ends in compromise
- Two Ukrainian fighter jets shot down over rebel-held territory
India will not support a trade facilitation protocol ahead of a July 31 deadline unless its concerns about subsidies are met, two senior government officials said on Wednesday, sticking to a hard line critics say could derail a landmark global trade deal. Full Article
Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs Full Article
Jet Airways chairman says looking to restructure debts, talking to bankers Full Article
Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec Full Article