Maruti shares gain 1.5% as strike ends

Defying a broader market downtrend, shares of Maruti Suzuki India today rose by over 1 per cent on the bourses, after a 14-day-long strike at the company's Manesar plant was called off this morning.

The stock settled 1.53 per cent higher at the BSE at Rs 1,092.30, emerging as the best performer among the Sensex blue-chips.

During the day, the stock had surged by as much as 3.88 per cent to touch a high of Rs 1,117.55, but it pared some of the intra-day gains amid market weakness.

On the National Stock Exchange, the stock closed 1.57 per cent higher at Rs 1,094.40.

In terms of volume, 1.98 lakh shares of the company were traded on the BSE and more than 14.22 lakh equities exchanged hands on the NSE.

The 14-day-long strike at Maruti's Manesar plant, which is estimated to have cost the company over Rs 700 crore, was called off this morning following a tripartite agreement between the management, workers and the Haryana government.

The stock sharply outperformed a broader weakness on the bourses, where the benchmark Sensex settled 151.25 points lower at 16,785.64.