Maruti Suzuki rises 2% after the company commences export of Jimny

Stocks

Recently, company increased prices of select models owing to increase in various input costs.

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Maruti Suzuki India share price rose over 2 percent intraday on January 20 as the company commenced export of compact off-roader Jimny from India and also planning to launch an upgraded Swift in Q4FY21 .

The company is planning on launching an upgraded Swift in Q4FY21 & all-new Celerio in Q1FY22 according to sources, reported CNBC-TV18.

Maruti & Toyota are working on a B-segment SUV for CY22, while likely to launch a new Vitara Brezza in CY22. Also the launch of diesel variants of Ertiga & Brezza cannot be ruled out, it added.

The company commenced export of Suzuki’s celebrated compact off-roader Jimny from India. The first shipment of 184 units left from Mundra port to Latin American countries such as Columbia and Peru, as per the BSE release.

The iconic three-door Suzuki Jimny will be exported to Latin America, Middle East and African markets from India, company said.

Foreign broking firm Nomura has maintain neutral rating on the stock with a target at Rs 7,163 per share.

The 2% price rise partly offsets cost pressures, while there are discounts are at lower end of range currently, but may rise as supply increases.

It believe margin may remain under pressure in the near term. The long-term demand to be driven by rising personal income & job creation, reported CNBC-TV18.

Recently, company increased prices of select models owing to increase in various input costs. The price change varies across models and ranges up to Rs 34,000 (Ex-Showroom – Delhi).

At 12:12 hrs Maruti Suzuki India was quoting at Rs 8,083.75, up Rs 161.15, or 2.03 percent on the BSE.

maruti

The share touched its 52-week high Rs 8,400.00 and 52-week low Rs 4,002.00 on 13 January, 2021 and 03 April, 2020, respectively.

Currently, it is trading 3.76 percent below its 52-week high and 101.99 percent above its 52-week low.