Business Briefs

Maruti Suzuki to hike vehicle prices by up to 4% from April

New Delhi: A Maruti Suzuki India on Monday said it will hike vehicle prices by up to 4 per cent from April in order to offset the impact of rising input costs. In light of rising input costs and operational expenses, the company has planned to increase the prices of its cars from April, the country’s largest carmaker said in a regulatory filing. The price increase is expected to be up to 4 per cent and will vary depending on the model, it added. While the company continuously strives to optimise costs and minimise the impact on its customers, some portion of the increased cost may need to be passed on to the market, it noted.

IndusInd Bank stock ends nearly 1% higher after RBI assures customers

New Delhi: Shares of IndusInd Bank ended nearly 1 per cent higher on Monday after the RBI assured customers that the lender remains ‘well-capitalised’, even as it directed the board to complete remedial action relating to estimated Rs 2,100 crore accounting discrepancy within this month. The stock rallied 5.30 per cent to Rs 707.75 during the day on the BSE. It finally ended at Rs 676.95, up 0.72 per cent. At the NSE, the stock surged 5.58 per cent to Rs 709.90 in intra-day trade. Shares of the firm ended at Rs 676.15, up 0.56 per cent.

Ola Electric shares tumble over 7%, hit 52-week low

New Delhi: Shares of Ola Electric Mobility Ltd tanked over 7 per cent on Monday morning after the firm said its vehicle registration service provider Rosmerta Digital Services Ltd has sought the initiation of insolvency proceedings against its wholly-owned arm Ola Electric Technologies Pvt Ltd. The stock slumped 7.12 per cent to hit a 52-week low of Rs 46.94 on the BSE. At the NSE, shares of the firm declined 7.04 per cent to Rs 46.95 — the 52-week low level.