Hit by costlier imports on the back of a depreciating rupee, domestic automobile companies are looking at stepping up localisation efforts and scaling up exports to cut costs and offset the impact of adverse foreign exchange fluctuations.

By RAGHAVENDRA UPADHYAYA MUMBAI - Indian shares reversed early gains to close lower Tuesday, as the local currency continued its downward spiral, setting new record lows against the US dollar after Fitch Ratings cut Japan's sovereign rating.

Maruti Suzuki Ertiga demand has been on the rise ever since its launch. Currently the new Maruti 7 seater based on Swift hatchback comes with a waiting period of 6 months.

Indian markets dropped further towards closing on Tuesday. At 3.13 pm, the Sensex was trading down 175.13 points or 1.08% at 16008.13 with 27 components falling.

Sudarshan Sukhani of s2analytics.com views on Maruti Suzuki India , Dish TV and Eveready Industries India. Sukhani told CNBC-TV18, “ Maruti Suzuki India is not a screaming buy.