Maruti in third gear!

Maurti Suzuki seems to be third gear today. The stock opened at Rs.1324, its intra day low point and soon jumped up to Rs.1374.50, its intra day high point. It currently remains around the same levels, up over 4%. Volumes are robust at 52,000 shares.

The stock is up due to the falling yen which fell yesterday to a three and half year low. A weaker yen is good the margins of Maruti helping it to improve margins and reducing costs on imported parts from Japan. The yen slumped down after the Bank of Japan yesterday major monetary expansions in a bid to tackle deflation.