On NSE, the scrip gained 3.56% to Rs. 1,535.40 -- its 52-week high level.
The scrip was the top performer among the 30-Sensex blue-chip companies during the morning trade.
"We expect the price increase to slightly offset the negative impact of foreign exchange movement on the operating margins of the company," Angel Broking said in a report.
The company has said price hike has been necessitated due to increasing pressure on the margins due to the currency fluctuation.
Meanwhile, buying was also seen on other auto counters. Tata Motors was trading 2.14% higher, while Mahindra & Mahindra rose by 1.43%.