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Four-wheeler shares gain on hopes of price hike

Source : REUTERS
Last Updated: Mon, Dec 09, 2013 11:56 hrs
A worker cleans a parked car at the Maruti Suzuki's stockyard on the outskirts of Jammu

Shares of India's four-wheeler automakers rose on Monday on hopes they would raise prices from January due to rising input costs and rupee depreciation, dealers said.

"Components costs have increased materially due to currency fluctuations, therefore companies will have to pass on the higher prices to protect their margins," said Abhishek Gaoshinde, an analyst who tracks the sector.

Maruti Suzuki India Ltd rose 3.7 percent, while Mahindra and Mahindra Ltd gained 2.3 percent.

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