Maruti Suzuki shares gain on hopes for new Alto model

Last Updated: Mon, Sep 24, 2012 10:06 hrs

Shares in Maruti Suzuki rise as much as 4.24 percent on Monday on hopes for increased sales from the launch of a new Alto 800 model in mid-October, during India's festival season.

The new version of the hatchback, which has been India's biggest-selling car for the past eight years, is looking like it could be a big hit, dealers say.

The car is expected to carry a price tag of around 270,000 rupees ($5,000) after taxes and fees, says Deepak Jain, an auto analyst at Sharekhan Institution.

The new Alto will be 15 percent more fuel efficient than its predecessor, a company spokesman says.

Maruti Suzuki shares up 3.3 percent as of 0950 GMT.

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