Maruti shares tank 6% on marginal decline in February sales

Shares of Maruti Suzuki India (MSI) on Wednesday tumbled 6 per cent after the company reported a drop in total wholesales in February.

The stock tanked 6 per cent to settle at Rs 7,813.85 apiece on the BSE. During the day, it plunged 6.58 per cent to Rs 7,765.

On the NSE, it plunged 6.01 per cent to settle at Rs 7,814.20.

The country's largest car maker Maruti Suzuki India on Tuesday reported a marginal drop in total wholesales at 1,64,056 units in February.

The company had sold 1,64,469 units in February 2021, MSI said in a regulatory filing.

Last month, the company's domestic sales slipped 8.46 per cent to 1,40,035 units as against 1,52,983 units in February 2021, it added.

"The shortage of electronic components had a minor impact on the production of vehicles which are primarily sold in the domestic market. The company took all possible measures to minimise the impact," MSI had said.