Mumbai: Shares of car maker Maruti Suzuki India on Friday fell by nearly 3 per cent in early morning trade amid a one day production shut-down at its two plants at Gurgaon and Manesar on Friday ahead of a six-day scheduled maintenance closure later this month.
After making a weak opening, shares of the company further lost 2.62 per cent to Rs 1,545.50 on the BSE. At the NSE, the scrip went down by 2.65 per cent to Rs 1,545. The stock was the top loser among blue-chips on Sensex during the morning trade.
The one day shut-down of the two plants today is to adjust production to market demand, a company spokesperson had said, adding that the plants will also remain closed on June 8 for a scheduled holiday.
The development comes in the wake of continued slump in the automobile market. MSI had reported 14.4 per cent decline in its total sales in May this year at 84,677 units. It's domestic sales declined 13 per cent at 77,821 units, over 89,478 units in May, 2012....
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11:12 AM, Jun 07, 2013
New Delhi: Falling sales have forced the country's largest car maker Maruti Udyog to announce a one-day shutdown on Friday of its production facilities in Manesar and Gurgaon. This is the first time Maruti has shut down its diesel car production at Manesar. The company said that it needs to reduce its inventory levels. The day-long shutdown at its two plants comes ahead of a six-day scheduled maintenance closure later...
09:47 AM, Jun 07, 2013
New Delhi: Falling car sales have forced Maruti Udyog to shut down its Gurgaon and Manesar plants for a day on June 7. Maruti will shut down production at the two plants as demand for diesel cars falls, said sources. This is the first time Maruti will shut down its diesel car production at Manesar. The company says it needs to reduce its inventory levels. In March this year, Maruti...
10:59 AM, Jun 06, 2013
New Delhi: The country's largest car maker Maruti Suzuki India today said Life Insurance Corporation of India has sold 2.53 per cent stake in the company over a period of almost six months. Post-sale, LIC's stake in Maruti Suzuki India (MSI) has come down to 8.247 per cent currently from 10.777 per cent earlier, the auto maker said in a filing to the BSE. LIC sold 62,23,598 equity shares, representing...
02:59 PM, May 21, 2013
New Delhi: The Indian Army has decided to phase-out Maruti Gypsy from its inventory with Mahindra Scorpio and Tata Safari in the race to replace the vehicle under a project expected to cost the force more than Rs 3,000 crore. The Indian Army is the biggest customer of the Maruti Gypsy utility vehicles with more than 25,000 such vehicles in service and uses them in all light vehicle operations including...
12:08 PM, May 11, 2013
New Delhi: Country's largest car maker Maruti Suzuki India on Thursday reported 79.4 per cent jump in its standalone net profit for the quarter ended March 31 at Rs 1,147.5 crore, mainly on the account of good sales of models like Ertiga, DZire and Swift. The company had registered a net profit of Rs 639.8 crore during the corresponding period in 2012, Maruti Suzuki India (MSI) said in a statement....
02:14 PM, Apr 26, 2013
New Delhi: Mahindra & Mahindra will launch its sub-four metre sedan Verito Vibe next month to take on the likes of Maruti Suzuki's Dzire and Honda's newly introduced model Amaze. "The Verito Vibe marks our entry in the high volume sub 4 metre segment," Mahindra & Mahindra Ltd Chief Executive, Automotive Division Pravin Shah said in a statement. The new model will be powered by a 1.5 litre diesel engine...
11:14 AM, Apr 13, 2013
Mumbai: Honda's first entry level mid-size sedan is here and marks the Japanese manufacturers' entry into the diesel segment in India. In a segment that is dominated by Maruti's Dzire, the Amaze promises to better the leader and bite into the major chunk of the entry sedan pie. We drove the production ready car in India and came back impressed. Look at the car from front and one will think...
06:20 PM, Apr 12, 2013
Maruti Suzuki India Ltd will suspend production of petrol cars at one of its plants on Saturday, a company executive said, as the country's top car maker looks to cut inventory amid slowing sales. ...
02:05 PM, Mar 08, 2013
The country's largest car maker Maruti Suzuki India (MSI) today reported 7.89 per cent decline in its total sales at 1,09,567 units in February 2013. The company had sold 1,18,949 units in the corresponding month last year, MSI said in a statement. ...
12:00 PM, Mar 01, 2013
Production at leading automobile companies in the Gurgaon-Manesar belt, including Maruti Suzuki, Hero MotoCorp and Suzuki Motorcycle India, will be hit on Thursday. ...
05:25 PM, Feb 20, 2013
Maruti Suzuki Desert Strom - the annual rendezvous with the Thar desert is all set begin from February 18 with over 275 motor enthusiasts participating in a riveting race. ...
11:43 AM, Feb 13, 2013
Hyundai Motor Co's India unit, the country's second biggest carmaker, said it raised vehicle prices by up to 20,878 rupees due to an increase in input costs and currency fluctuations. ...
05:58 PM, Feb 01, 2013
UBS upgraded its ratings on Maruti Suzuki India Ltd to "buy" from "neutral," and raised its price target to Rs 2,000 from Rs 1,500, noting the weakening Japanese yen over the past three months would boost earnings. ...
01:00 PM, Jan 28, 2013
Maruti Suzuki India Ltd, the country's biggest carmaker by sales volume, has purchased land in Gujarat for its fourth plant, with a view to roughly doubling annual production capacity to about 3 million units, the Nikkei business daily said on Sunday. ...
12:49 AM, Jan 28, 2013
Riding on good sales of new models like Ertiga and Swift DZire, and benefiting from low base effect, the country's largest car maker Maruti Suzuki India on Friday reported an over two-fold jump in net profit at Rs 501.29 crore for the third quarter ended December, 2012. The company's net profit stood at Rs 205.62 crore during the same period last fiscal. ...
02:58 PM, Jan 25, 2013
Maruti Suzuki India Limited (MSIL) is offering the new Ritz with an automatic variant in a single trim priced at Rs 6.43 lakh ex-Mumbai. The 4-speed automatic box from the Dzire is now coupled with the 87PS 1.2-litre K-Series petrol engine. ...
12:17 PM, Jan 03, 2013
The country's largest car maker Maruti Suzuki India on Thursday said it will increase the prices of its vehicles across all models by up to Rs 20,000 from January due to increasing pressure on its margins due to currency fluctuation. ...
02:11 PM, Dec 06, 2012
The country's largest car maker Maruti Suzuki India (MSI) on Saturday reported 12.45 per cent increase in its total sales at 1,03,200 units in November. ...
11:43 AM, Dec 01, 2012
New York: The country's largest car maker Maruti Suzuki India (MSI) on Thursday reported 85.46 per cent increase in total sales at 1,03,108 units in October. The company had sold 55,595 units in the same month in 2011, the company said in a statement. In October, MSI recorded domestic sales of 96,002 units compared to 51,458 units in the year-ago period, registering a rise of 86.56 per cent, it added....
12:22 PM, Nov 01, 2012
