January 7, 2013 / 4:57 AM / 5 years ago

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.

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. REUTERS/Amit Dave/Files

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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