MUMBAI 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)
New RBI chief's policies to broadly echo Rajan's: Reuters poll
BENGALURU Indian monetary policy is likely to stay broadly unchanged when Urjit Patel takes over as Reserve Bank of India governor, according to a Reuters poll, but his approach to cleaning up public banks' bad debts could be less stringent.
Wall St gains as financials rally on Fed rate comments
Wall Street snapped a three-day losing streak on Monday as financial stocks rose after Federal Reserve Chair Janet Yellen said the case for an interest rate hike had strengthened.
HSBC executive pleads not guilty in U.S. over forex scheme
NEW YORK A senior HSBC Holdings Plc executive pleaded not guilty on Monday to charges that he participated in a fraudulent scheme to front-run a $3.5 billion currency transaction by one of the bank's clients.