Maruti surges; weaker yen seen boosting margins

Last Updated: Fri, Apr 05, 2013 07:39 hrs

Shares in Maruti Suzuki India Ltd rose 6.5 percent on Friday, on hopes a weaker yen currency would improve margins by reducing the costs of importing auto parts from Japan after the Bank of Japan unleashed unprecedented monetary expansion.

The yen slid to a 3-1/2 year low against the dollar on Friday, after suffering its biggest one-day tumble since late 2008 on Thursday, on the back of the BOJ's radical campaign to attack deflation.

Maruti Suzuki shares were up 4.3 percent as of 10:49 a.m.

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