Maruti Suzuki shares hit lifetime high, vroom above Rs 5000

The stock of the auto major rose as much as 3.6 per cent to Rs 5,104.90 on the BSE.  Brokerage CLSA sees a target price of Rs 5850 on the stock, an upside of 14.59 per cent against its lifetime high.

BusinessToday.In

New Delhi,
Updated Aug 30, 2016 4:14 PM IST

Maruti Suzuki shares hit lifetime high, vroom above Rs 5000

Photo: Reuters

Shares of Maruti Suzuki are vrooming as if there is no tomorrow. The stock hit its lifetime high of Rs 5,104.90 in trade on Tuesday after Japanese currency yen weakened against the dollar.

A weaker yen lessens the burden of royalty it pays to its parent firm Suzuki. It also makes cheaper imports of automobile parts from Japan.

The stock of the auto major rose as much as 3.6 per cent to Rs 5,104.90 on the BSE. The scrip settled the day 2.83 per cent higher.

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Brokerage CLSA sees a target price of Rs 5850 on the stock, an upside of 14.59 per cent against its lifetime high.

The auto major's total volumes increased by 13 per cent yoy in July 2016 with domestic volumes up 14 per cent yoy, while export volumes were flat in the same period. Growth continues to be driven by new models Baleno and Vitara Brezza.

Meanwhile, Maruti Suzuki has maintained its leadership position in the country's passenger vehicle (PV) market in July with seven of its models featuring in the top 10 selling brands last month, including recently launched compact SUV Vitara Brezza.

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On Tuesday, the company launched sporty Swift Deca, a limited edition model of its most popular hatchback.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Published on: Aug 30, 2016 4:09 AM IST

Maruti Suzuki shares hit lifetime high, vroom above Rs 5000

The stock of the auto major rose as much as 3.6 per cent to Rs 5,104.90 on the BSE.  Brokerage CLSA sees a target price of Rs 5850 on the stock, an upside of 14.59 per cent against its lifetime high.

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Maruti Suzuki shares hit lifetime high, vroom above Rs 5000

The stock of the auto major rose as much as 3.6 per cent to Rs 5,104.90 on the BSE.&nbsp; Brokerage CLSA sees a target price of Rs 5850 on the stock, an upside of 14.59 per cent against its lifetime high.

TOP STORIES

TOP VIDEOS

The stock of the auto major rose as much as 3.6 per cent to Rs 5,104.90 on the BSE. Brokerage CLSA sees a target price of Rs 5850 on the stock, an upside of 14.59 per cent against its lifetime high.