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

Related News

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.

Read more on:   
|
|

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

Read More

Agri Min proposes Rs 170/quintal hike in paddy MSP

In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...

Recommended for you

Advertisements

Quick Links

Market News

I don't see any major upside till Diwali: Aseem Dhru

Q&A with the CEO & Managing Director of HDFC Securities

Pre- Market: 15 stocks to watch out for in today's trade

Cipla, BOB, NIIT Tech, Dabur, Rel comm, Hindustan Zinc and Cairn India are likely to remain in limelight

Slow pace of reforms in India is disappointing: Marc Faber

Q&A with renowned global investor and author of The Gloom, Boom & Doom report

Aberdeen gets MAT relief

Bombay High Court grants interim stay against tax authorities' order

Transfer of shares in insurers that leads to shareholding change not allowed: IRDAI

The regulator said that they would conduct their own due diligence for approval of such a transfer

 

Back to Top