Ertiga ‘LUV’ powers Maruti Suzuki stock

Stock investors appear to have responded very well in kind.

Written by Agencies | Published:April 20, 2012 12:22 pm

Maruti Suzuki has plastered India with its Live life with LUV (Life Utility Vehicle) advertisements as it promotes its new Ertiga model,and stock investors appear to have responded very well in kind.

As of Thursday’s close,Maruti stocks had surged 9.3 percent since the launch of the model on April 12,versus a 2 percent gain in the broader Nifty index,after analysts cited the competitive pricing for the model.

Mutual Funds Check for top funds

Shares in India’s biggest car maker Maruti Suzuki added 1.1 percent on Friday,extending the rally after executives have been making media appearances citing the auto maker has received over 10,000 bookings in the first five days of sales.

Even as the product has lower engine power,Ertiga initial response is better than expectations as it carries a competitive pricing and higher mileage tag with it,said Deepak Jain,a sector analyst at brokerage Sharekhan.

Large proportion of Ertiga sales is expected to be for the diesel variants,Jain said.

Stocks More on Maruti Suzuki

Company INFO More on Maruti Suzuki

For all the latest News Archive News, download Indian Express App

  1. No Comments.
Express Adda