Maruti Suzuki surges after weak yen boosts margin outlook1 min read . Updated: 10 May 2013, 04:11 PM IST
Maruti Suzuki shares at highest in more than three-and-a-half years as parent posts record profit
Suzuki, which holds a 56% stake in India’s largest car maker, said profit jumped 49.2% to 80.4 billion yen. A weaker yen may ensure stronger gains for Maruti Suzuki as the cost of raw material imports and royalty payments in rupee terms decline.
Shares of Maruti Suzuki rose as much as 3.99% on the BSE to ₹ 1,726.15, the highest since September 2009. The 30-share BSE Sensex gained 0.72% to 20,082.62 points.