Automakers are offering record high discounts in December, these range from 5% to 15%.
Maruti feels it would miss out on a sizeable market share if it leaves the space but its rivals stay put.
The company’s stock hit the daily upper circuit limit of 10 per cent on the Riyadh’s Tadawul stock exchange on the opening day.
Nifty December contracts expire on the 26th of the month.
An assembly plant in Thailand is likely to go on stream in the next six months, while the company is exploring a facility for the Latin American market. The idea is to bring the cost down in countries where the import tariffs are high. It is looking at partners who could share the investment and offer local expertise in such markets.
It is now the world’s 67th most valuable stock and has risen 41 per cent this year.
The country’s market capitalization is currently at $2.13 trillion and slipped to the eighth rank among the top equity markets by m-cap.
Domestic mutual funds’ holdings in RIL and BPCL rose by 9 per cent and 17 per cent on a month-on-month basis in October.
The volume growth can be attributed to several factors.
Maruti’s parent Suzuki Motor corporation has deferred its $550-million third plant in Gujarat while Honda Motorcycle and Scooter India has pushed back plans to commence production from its third manufacturing line in Gujarat. Suzuki Motorcycle India has also put off by a few years its proposal to set up a second plant.
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