Shares of Maruti Suzuki Ltd. rose to a 52-week high breaching the Rs 10,000-mark on Wednesday as India's largest carmaker launched its costliest model yet to capture share in the utility vehicle market.
The stock rose to an intraday high of Rs 10,036.70 and closed 3.61% higher at Rs 9,994.50 apiece on the Bombay Stock Exchange. It also became the biggest gainer among the Sensex firms in Wednesday's trading.
The company's market valuation climbed Rs 10,520 crore to Rs 3.01 lakh crore on the BSE.
The company launched the new Invicto at introductory prices ranging from Rs 24.8 lakh to Rs 28.4 lakh as it looks to gain a foothold in the premium three-row multi-purpose vehicle segment.
The maker of Swift is looking to double its turnover to around Rs 1.68 lakh crore by 2030–31 from FY22 level, in line with parent Suzuki Motor Corp.'s global growth strategy, company Managing Director and Chief Executive Hisashi Takeuchi said on Wednesday.
(Inputs from PTI)
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