Maruti Suzuki shares gain on hopes for new Alto model

Source : REUTERS
Last Updated: Mon, Sep 24, 2012 10:06 hrs
A worker cleans a parked car at the Maruti Suzuki's stockyard on the outskirts of Jammu

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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