Maruti up 3%, hits 52-week high on price hike by upto Rs 20000

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Moneycontrol BureauShare price of country's largest car maker Maruti Suzuki touched a 52-week high of Rs 5000, gaining nearly 3 percent intraday Tuesday as it has increased prices of upto Rs 20,000 per unit. The company has hiked prices of Vitara Brezza by up to Rs 20,000 and Baleno by up to Rs 10,000 per unit.  The auto major said that it has raised prices ranging from Rs 1500-5000 (ex-showroom Delhi) on select models."This price revision is based on factors like segment wise demand, forex movement and strategic objectives of the company," company said in press release.The price increase is effective from August 1, 2016.In addition to this in July 2016 it sold 1.37 lakh vehicles, higher by 12.7 percent compared with 1.21 lakh vehicles sold in year-ago period. The growth was entirely led by domestic business.Its domestic sales were highest ever in a month, growing 13.9 percent to 1.25 lakh units, supported by Ciaz, Baleno, Eeco and Vitara Brezza.At 09:38 hrs Maruti Suzuki India was quoting at Rs 4,972.95, up Rs 103.15, or 2.12 percent on the BSE.Posted by Rakesh Patil