Maruti shares gain over 1% as company hikes prices of select vehicles

The country's largest carmaker on Monday said it has increased the prices of select models by up to ₹34,000 to offset adverse impact of rising input costs.

Shares of Maruti Suzuki India on Tuesday closed more than 1 per cent higher after the firm increased the prices of select models by up to ₹34,000 to offset adverse impact of rising input costs.

A man speaks on his mobile phone as he exits a glass door with the logo of Maruti Suzuki India Limited at a showroom in New Delhi, India. (Reuters)

The stock closed with a gain of 1.10 per cent at ₹7,900 on BSE. During the day, it jumped 2.24 per cent to ₹7,990.

On NSE, it gained 0.95 per cent to settle at ₹7,905.

The country's largest carmaker on Monday said it has increased the prices of select models by up to ₹34,000 to offset adverse impact of rising input costs.

The company is increasing the prices owing to an increase in various input costs. The new prices are effective from January 18, 2021, Maruti Suzuki India said in a regulatory filing.

The price change varies across models and ranges up to ₹34,000 (ex-showroom-Delhi), it added.