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Maruti drops, mixed day for auto counters

January 6, 2010

Shares in Maruti Suzuki dropped 3.5 percent on Wednesday after the Reserve Bank said foreign institutional holdings had reached a trigger limit and fresh purchases would need its prior approval.

Its shares closed at 1462.6 rupees and ended as the top loser among Sensex components. It was also among the top losers in the BSE Auto Index.

The auto index however ended only marginally in red, with stocks such as Escorts, Bharat Forge and M&M gaining.  TVS Motors ended down 3.7 percent, top loser in the index.

Maruti shares have struggled so far this year, losing a tad over 6 percent. The auto index has gained around 1 percent in the same period.

Would you take advantage of this fall and invest in Maruti shares?

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