Shares of automobile company rose by 4 per cent after new launch!

Launched the brand's most expensive car and shares soar to a new 52-week high.

Shares of Maruti Suzuki India were in the limelight yesterday after the launch of the new car, Invicto. The stock opened at Rs 9,682.05 and during the day it jumped 4.05 percent to its new 52-week high of Rs 10,036.70. It has a 52-week low of Rs 8,076.65. The stock rallied by 3.61 percent and settled at Rs 9,994.50 on the BSE.

Maruti Suzuki India unveiled the new Invicto, the most expensive car for the brand at introductory rates ranging from Rs 24.8 to Rs 28.4 lakh as it seeks to establish itself in the premium three-row multi-purpose vehicle segment. It features an Intelligent Electric Hybrid powertrain with a 2.0L engine and e-CVT transmission for fuel efficiency of 23.24 km per liter. The Maruti Suzuki Invicto is a cross-badged version of the Toyota Innova Hycross, which was launched late last year.

Recently, the company announced its production numbers for June 2023, which saw a decline in both passenger and light commercial vehicles by 5.31 percent, from 144,409 units produced in June 2022 to 137,133 units produced in June 2023. The company stated that the shortage of electronic components had a minor impact on vehicle production and company took all possible measures to minimize the impact.

Maruti Suzuki India is an automobile manufacturer that provides passenger cars, utility vehicles, and vans. The company also offers pre-owned car sales through its brand called True Value, as well as fleet management and car financing services.