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Auto majors hike prices

IndiaNotes Team | 06 Apr, 2011  | Follow Author | Add to my Favourites 
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Maruti Suzuki, country’s largest car maker has hiked prices of all models by up to Rs9,000, to offset increasing input prices.  The price hike across models will range between 0.2% to 2.4%. Depending on the model, this will translate into a minimum increase of Rs1,100 and a maximum of Rs9,000. The price rise is with effect from April 4.

Tata Motors has also hiked the price of its passenger vehicles by up to Rs36,000 with effect from April 1 and other automakers may follow suit very soon.

Maruti Suzuki sold a total of 12,71,005 vehicles during fiscal 2010-11, registering a growth of 24.8% over last fiscal (10,18,365 units). The company recorded a growth of 30.1% in the domestic market.

Tata Motors' total sales in March 2011 were 83,363 vehicles, a growth of 11% over 75,129 vehicles sold in March 2010. The company's domestic sales registered a growth of 9%.

Shares of Maruti Suzuki closed at Rs1294.65 on BSE, down by 1.40%. The shares of Tata Motors closed at Rs1295.05, up 1.11%.

About IndiaNotes Team
Aonestock In on Apr 10 2011 said:
2:45 PM 4/10/2011 some one said despite recent slump in FDI inflows, the country remains the hottest
investment destination in the world after China. Nifty is likely to be very volatile. If it sustain above
5880/5940 with volume, then huge short covering is expected in the bear hammered stocks and above
5980/6020 watch out the blast of your life. Hence fantastic opportunity is available for some quick profit.
Nifty will find support at 5800/5740level. We are somewhere at the peak of crude oil prices. So I feel
that there is lots of noises, lots of concerns, but whether all this has been factored into price. I would
say majority of these concerns are in price. So for investor I would say this is a right opportunity to
buy this market on dips.Suppose now if oil tomorrow for whatever reason not sustaining at the level of
110-120 as today concern is; we know it very well once it go to this level there are good chances that
demand will lower and prices are going to come down. This is the worst case scenario that says 110-120 if
it remains so definitely stock price is not going to go further down from here, but if suppose there is an
implement like if we say interest rate cycle over, I feel that, that is also picked out over here, should
appear that if you consider lots of negative factor which actually weighed on this market, it appears that
we are seeing or we are somewhere at the peak of this interest cycle. We are somewhere at the peak of
crude oil prices. Almost every possible bad news is factored in the recent past. Now Q4 results will
surprise the analyst fraternity on the upside. Expect the good news on the monsoon front and government
regulation front to trigger the bull activity.


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Punit Jain
Founder - JainMatrix Investments - JainMatrix Investments