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Bullish calls on Maruti after UP's hybrid tax break sends stock to all-time high

Money Control · 11m

Maruti Suzuki's stock price surged after the Uttar Pradesh (UP) government waived registration fees on hybrid cars. Analysts from Citi, Morgan Stanley, and Macquarie have expressed optimism about the move. The tax waiver is seen as a positive development for Maruti Suzuki, potentially leading to more hybrid model launches. The registration waiver could reduce the on-road price of hybrid cars by up to Rs 4 lakh. This policy by UP could inspire other states to adopt similar incentives, boosting the demand for hybrid vehicles.