Maruti stock trades weak, slips below Rs 1,400 mark

Down 1.3% as profit-booking ticks in

Maruti Suzuki, India's largest passenger car manufacturer, witnessed profit-booking in the morning trade.

The counter, which gained over 7% last week to surge above Rs 1,400, lost around Rs 29 or 1.3% on the BSE as it was trading at Rs 1,387.45 at 10 am.

Last week, weakened yen on the back of Bank of Japan's stimulus announcements, had boosted sentiments in Maruti's shares as the counter jumped over 7% to close above Rs 1,400.

Markets experts were quick to give a buy call on the stock as they estimated improvement in the company's margins. Some of the brokerages gave a target of Rs 1,700 on the stock.