Maruti Suzuki Shares Saw a Rise on Wednsday June 18 with a Jump of 2 Percent Share Price of the Company Reached 12841

Maruti Suzuki Shares: The shares of Maruti Suzuki, a large automobile sector company, saw a boom on Wednesday, June 18. The company’s share price reached Rs 12,841 with a jump of 2 percent. Actually, there is a big news behind this fast. It is being told that the Government of India is considering Australia for the Alternative Source of Rare Earth Magnets. That is, the government is now thinking about asking for rare meaning magnets from Australia so that the supply chain can be diversified and the dependence on China can also be reduced.

Negotiations going on with these countries also

India is also interacting with countries like Argentina, Brazil and Chile for the supply of Australia as well as rare meaning elements. In China, more than 60 percent rare meaning elements of the world are produced and 90 percent refining is also done in China. Ever since China has banned the export of rare economy elements, India has been interacting with many countries to strengthen its supply chain. At the same time, it is also trying to become self -sufficient in its processing.

Maruti Suzuki’s new electric vehicle

Last week, Commerce Minister Piyush Goyal had said that the Government of India is actively looking for options including diplomatic efforts and development of new supply chains. Negotiations are also going on with Chinese officials on this matter. The steps being taken by the government matters even more for Maruti Suzuki as India’s largest automker company is preparing to launch its first electric vehicle E-Vitara. Earlier last week, it was reported in the CNBC-TV18 report that due to lack of rare-economical magnets, it is delayed in launching it and negotiations are going on to reduce the production target.

Shares of Maruti Suzuki

Along with this, at around 10 am today, the company’s shares were trading at Rs 12,839 to climb 1.7 percent at the NSE at Rs 12,839. Since the beginning of the year, Maruti Suzuki shares have gained up to 19 percent.

However, it is also necessary to mention here that even though India is very dependent on China for Rare Earth Magnets and imports about 80 % of its need, but despite this, the impact of China’s ban on India’s auto stock was limited. This is because more than 95 % trains sold in India have internal combustion engines.

Also read:

Now Chinese Dadagiri will not work with rare economy metals, processing work in India on the basis of ‘Make in India’