Maruti Suzuki, in the morning session today, rose over 2.2% to an intraday high at Rs.7589.30 and continues to trade in the positive, albeit a little lower at Rs.7559. Volumes are up 9 times.
The stock price rose after the company announced that it has increased the prices of Swift and all its CNG vehicles by Rs.15,000 (ex-showroom, Delhi), due to increase in various input costs.
The new prices are effective today and said that the price increase in other models is being planned shortly.
With most companies hiking rates, Maruti is doing pretty much what everyone else is doing.