A weaker yen would improve Maruti's margins by reducing the costs of importing auto parts from Japan.
Maruti Suzuki shares were up 4.3 percent as of 10:49 a.m.
Meanwhile, global investment bank CLSA maintained a "buy" rating on Maruti shares with a target of Rs 1,850. Demand side negatives are priced in the stock, CLSA said, adding that valuations overlook positives such as stabilizing market share.
CLSA said the demand environment is likely to improve by fiscal year 2014-15.
(With inputs from Reuters)