Maruti Suzuki India Shares Slide Below Rs. 6,000 For First Time In Over 2 Years
Total production – including light commercial vehicles – stood at 111,917 vehicles in June 2019, down 15.61 per cent on a year-on-year basis.
Maruti Suzuki India shares fell nearly 6 per cent in intraday trade on Monday, extending its fall to a second straight day after the carmaker reported a reduction in production. On the Bombay Stock Exchange (BSE), the Marurti Suzuki India share price opened lower at Rs.6,287.00, as against its previous close of Rs. 6,364.75, and declined to a record a fresh 52-week low of Rs. 5,985.55 in afternoon deals. That marked the first time since March 31, 2017 that the Maruti Suzuki India stock traded below the Rs. 6,000 apiece mark.
In a regulatory filing on Friday morning, Maruti Suzuki, the country’s largest carmaker, said it produced 1,09,641 passenger vehicles last month, marking a reduction of 16.35 per cent compared to the corresponding period a year ago.
That marked a fifth straight month of production cut for Maruti Suzuki India, which earlier this year forecast a sales growth of 8 per cent for 2019-20 as against a target of 10 per cent last year.
Total production – including passenger vehicles and light commercial vehicles – stood at 111,917 vehicles in June 2019, down 15.61 per cent on a year-on-year basis.
At 2:03 pm, Maruti Suzuki India shares traded 5.54 per cent lower at Rs.6,012.00 apiece on the BSE, under performing the Sensex benchmark which was down 1.91 per cent amid an across-the-board selloff.
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