Business Standard

Maruti Suzuki skids on buzz of downscale of investment plans

Lowered its production capacity to 1 lakh cars per year against 10 lakh cars planned earlier

SI Reporter  |  Mumbai 

India is trading lower by 3% at Rs 1,214 on reports that the company have downscaled its proposed investment plans in Mehasana, Gujarat.

India’s largest car maker had originally announced that it planned to set up a one million cars per year plant at an investment of Rs 6,000 crore in the first phase of its expansion in the state, lowered its production capacity to 1 lakh cars per year.

“The Mehsana plant will have the capacity to produce 1 lakh cars in a year initially as against 10 lakh cars planned earlier,” the report suggests quoting senior official of the company.

The stock has fallen 13% in past eleven trading sessions, compared to 5% drop in the benchmark index.

Today, the stock opened at Rs 1,238 and hit a low of Rs 1,205 on the National Stock Exchange. A combined 426,008 shares have changed hands on the counter so far on both the exchanges.

RECOMMENDED FOR YOU

Maruti Suzuki skids on buzz of downscale of investment plans

Lowered its production capacity to 1 lakh cars per year against 10 lakh cars planned earlier

Maruti Suzuki India is trading lower by 3% at Rs 1,214 on reports that the company have downscaled its proposed investment plans in Mehasana, Gujarat.

India is trading lower by 3% at Rs 1,214 on reports that the company have downscaled its proposed investment plans in Mehasana, Gujarat.

India’s largest car maker had originally announced that it planned to set up a one million cars per year plant at an investment of Rs 6,000 crore in the first phase of its expansion in the state, lowered its production capacity to 1 lakh cars per year.

“The Mehsana plant will have the capacity to produce 1 lakh cars in a year initially as against 10 lakh cars planned earlier,” the report suggests quoting senior official of the company.

The stock has fallen 13% in past eleven trading sessions, compared to 5% drop in the benchmark index.

Today, the stock opened at Rs 1,238 and hit a low of Rs 1,205 on the National Stock Exchange. A combined 426,008 shares have changed hands on the counter so far on both the exchanges.

image

LIVE MARKET

BSE 26392.38

161.19 (0.61 %)

NSE 8001.95

53.00 (0.67%)

Widgets Magazine

STOCK WATCH

Company Price() Chg(%)
Future Consumer 16.15 11.76
Kolte Patil Dev. 164.95 10.30
Vakrangee 118.45 9.88
PC Jeweller 384.50 9.34
Gateway Distr. 361.20 7.32
> More on BSE Gainers
Company Price() Chg(%)
Future Consumer 16.25 12.07
Kolte Patil Dev. 166.00 11.00
Vakrangee 118.35 9.89
L G Balakrishnan 491.15 8.78
Gateway Distr. 363.50 8.33
> More on NSE Gainers
Company Price() Chg(%)
Sunrise Asian 260.70 -9.98
Symphony 2083.30 -6.39
I O B 34.95 -5.41
Indbull.RealEst. 62.55 -5.01
Goldline Intl. 205.50 -4.99
> More on BSE Gainers
Company Price() Chg(%)
Rasoya Proteins 0.20 -20.00
Usha Martin 15.25 -5.86
I O B 35.35 -5.73
GHCL 115.70 -5.47
Gammon India 13.90 -5.12
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price