Maruti Suzuki to hike prices across models from Sept; stock rises 2.9%

The hike could be steeper than last three rounds, pushed by an exponential increase in prices of raw materials such as steel and copper, analysts said

Maruti Suzuki, the country’s largest automaker, has announced a price hike across models from September, making it the fourth such increase this year.
 
While the hike was minimal in the last three rounds, this one could be steeper, pushed by an exponential increase in prices of raw materials such as steel and copper, analysts said.
 
The company’s stock price immediately rose after the announcement, closing at 2.9 per cent higher, while the benchmark index rose by 1.36 per cent.
 
The company had announced its plan to hike prices for the July-September period, but it did so only