Maruti Suzuki settles 1.61% down; m-cap erodes by Rs 1,744 cr

Shares of Maruti Suzuki settled down 1.61 per cent on the bourses today eroding Rs 1,744 crore from its market valuation after the country's largest carmaker temporarily suspended operations at two plants in Gurgaon and Manesar starting Saturday.
"Owing to the agitation in Rohtak and nearby areas, supplies of certain components have been disrupted. As a consequence, the company has had to temporarily suspend manufacturing of cars at its facilities in Manesar and Gurgaon starting Saturday (February 20) second half," the company said in a regulatory filing on Saturday.
Following this, shares of the company opened on a weak note at Rs 3,548 and then tanked 2.39 per cent to an intra-day low of Rs 3,495.15 on the BSE.

At the end of trading session, the stock was quoted at Rs 3,523.30, down 1.61 per cent on BSE. Following the downtrend in the stock, the market capitalisation of the company eroded by Rs 1,744.51 crore to Rs 1.06 lakh crore.
NSE, where the stock opened at Rs 3,539, fell 2.44 per cent to an intra-day low of Rs 3,491.55 and finally closed for the day at Rs 3,520, down 1.63 per cent.
"The company is making efforts to arrange the components from other sources. Once the supply of components is restored, normal operations will resume," the filing added.
The combined output from Manesar and Gurgaon is about 5,000 vehicles per day.

Meanwhile, the broader market settled in the positive territory with the 30-share benchmark index Sensex quoted at 23,788.79, higher by 79.64 points.