Maruti Suzuki India lost 1.45% to Rs 1,930.80 at 15:10 IST on BSE after the company said it will proactively replace fuel filler neck of 103,311 vehicles manufactured between 12 November 2013 and 4 February 2014.
The announcement was made during trading hours today, 11 April 2014.
Meanwhile, the S&P BSE Sensex was down 84.35 points or 0.37% at 22,630.98.
On BSE, so far 38,000 shares were traded in the counter as against average daily volume of 95,214 shares in the past one quarter.
The stock hit a high of Rs 1,955 and a low of Rs 1,923.50 so far during the day. The stock had hit a 52-week low of Rs 1,217 on 28 August 2013. The stock had hit a record high of Rs 1,979.55 on 1 April 2014.
The stock had outperformed the market over the past one month till 10 April 2014, surging 8.79% compared with the Sensex's 3.56% rise. The scrip had, however, underperformed the market in past one quarter, jumping 9.17% as against Sensex's 9.43% rise.
The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Maruti Suzuki India today, 11 April 2014 announced that it will proactively replace 'fuel filler neck' of 103,311 vehicles (42,481 units of DZire, 47,237 units of Swift and 13,593 units of Ertiga) manufactured between 12 November 2013 and 4 February 2014.
Maruti Suzuki India said that this exercise is limited to vehicles within the above specified range and does not pertain to any other vehicle of the company.
In the affected vehicles there is a possibility of fuel smell and in extreme condition there may be some fuel leakage, if fuel is filled upto the fuel cap, beyond 'Auto cutoff level', Maruti Suzuki said.
Maruti Suzuki said that its dealers will contact owners of all vehicles in the above mentioned range. The company will replace the 'fuel filler neck' free of cost, it added.
As part of its regular quality tests in the manufacturing process, the company noticed the problem, Maruti Suzuki said. The new fuel filler neck is being progressively despatched to the dealer workshops, it added.
Considering the number of vehicles impacted, the company is building up stock of the required component at its dealer workshops, before inviting customers, Maruti Suzuki India said in a statement.
Maruti Suzuki India's net profit surged 35.9% to Rs 681.15 crore on 3.1% decline in net sales to Rs 10619.68 crore in Q3 December 2013 over Q3 December 2012.
Japanese parent Suzuki Motor Corporation holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 December 2013).
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