Maruti down 3%, margin may hit as yen hits 17-mth high against $

Maruti Suzuki   shares lost 3.4 percent intraday Thursday on worries of rising Japanese yen against US dollar that may hurt company's margin performance. Yen touched a fresh 17-month high against the US dollar today. It fell more than 10 percent in more than three months time to 108.80 (at 11:11 hours IST) a dollar from 121.68 a dollar on January 29. In last three months, Maruti shares lost 23 percent. Analysts say every 10 percent appreciation in yen have 200 basis points negative impact on company margins.

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