Tata Motors Ltd. said on Monday that it has hiked prices of its commercial vehicles by 2%. The price hike is to take effect from April 1.
The price hike will be applicable to the entire range of commercial vehicles and will vary depending on the individual model and variant, the company said in an exchange filing.
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The company has increased the price to offset the rise in input costs.
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This comes after Maruti Suzuki India Ltd. has effected its third price hike in three months amid moderating sales in the world's third largest car market.
The shares of Tata Motors closed 0.71% higher at Rs 655.50 apiece. This comes after the shares rose over 1.67% to Rs 666.45 per share.
(This is a developing story.)
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