Maruti Suzuki jumps on weaker yen1 min read . Updated: 05 Apr 2013, 12:58 PM IST
Maruti shares rise as much as 4.5% on hopes a weaker Japanese yen would improve margins significantly
MumbaI: Shares in Maruti Suzuki India Ltd rose as much as 4.5% on Friday, on hopes a weaker yen currency would improve margins by reducing the costs of importing auto parts from Japan after the Bank of Japan (BoJ) unleashed unprecedented monetary expansion.
The yen slid to a three-and-a-half-year low against the dollar on Friday, after suffering its biggest one-day tumble since late 2008 on Thursday, on the back of the BoJ’s radical campaign to attack deflation.
Maruti Suzuki shares were up 4.18% to ₹ 1,366.05 apiece at 10:54am on Friday.