Maruti Udyog moves ahead Swiftly

DALAL STREET SPIKES

Four-wheeler major Maruti Udyog was in the limelight after the company announced the launch of the eagerly awaited Swift in India.

The stock was up nearly 2 per cent in intra-day trades to Rs 465 before closing at Rs 460.90, up 0.6 per cent from its previous close. Suzuki Motor Corporation's world car, Swift, was unveiled at New Delhi today.

Analysts tracking the sector said, the new launch will definitely help the company to penetrate its presence in the already overcrowded mid-sized car segment.

Swift, built on a brand new platform, marks a radical new trend in Suzuki design. It is the first developed vehicle to emerge out of an ambitious design initiative that began at Suzuki Motor Corporation a few years ago.

"25 Indian engineers from Maruti have worked with their Japanese counterparts at Suzuki Motor Corporation for two years to design this world car and prepare it for Indian conditions," the company's managing director said.