Maruti hits 52-week high; rises in falling market

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Maruti hits 52-week high; rises in falling market
Maruti Suzuki India: Quotes, News
BSE 7516.00BSE Quote59.45 (0.79%)
NSE 7514.00NSE Quote59.05 (0.79%)
Sustained buying in India's largest passenger car maker, Maruti Suzuki, pushed the stock to a new 52-week high of Rs 1854.25 on the National Stock Exchange.

From a low of Rs 1215 in August, 2013 the stock has now gained almost 50 per cent in just four months. Most brokerages have upgraded the stock to a "buy" on the hopes of sharp improvement in performance.

The company's shares have risen despite it saying that total vehicles sales declined 4.4 per cent for the month of December 2013 to 90,924 units over December 2012.

Shares of Maruti Suzuki have also gained in the past when the US dollar appreciates against the Japanese Yen. According to equity experts, a weakening yen is one of the big positives for a company like Maruti.

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