Maruti on Saturday announced it had sold 108,000 units in July, 88.2 per cent more than June 2020
But interest among first-time buyers may help it boost market share
The company posted a pre-tax loss of Rs 370 crore, as compared with a profit of Rs 1,853 crore in the year-ago quarter
The company sold 76,599 vehicles in Q1FY21, down 81 per cent from 4,02,600 units sold in Q1FY20
All that happened in the markets today
Brokerages are building in a net loss of up to Rs 750 crore for Maruti for the quarter under review led by a massive decline in volumes, as compared to a profit of Rs 1,435.5 crore reported in Q1FY20
The country's largest car maker that sells on an average one out of every two cars sold in the country has seen digital enquiries spike to over 45 per cent during the lockdown months
This week, domestic equity markets will largely be steered by corporate earnings, developments on US-China relations front and Covid-19 trends
Maruti Suzuki, Bajaj Auto, and Hero MotoCorp's tax collections were down 60-85 per cent.
With today's gain, the stock has outperformed the market by gaining 14 per cent, as compared to a 9 per cent rise in the S&P BSE Sensex.
The SGX Nifty is indicating an open at around 10,100 mark for the broader index
Smart positioning, continued communication and a global design language have played a big role, say experts
Carmakers have joined hands with commercial banks and NBFCs and launched EMI schemes aimed at reducing the initial purchase cost and monthly outgo
Business Standard brings the top headlines of the day
Sectorally, banking stocks rallied the most. The Nifty PSU Bank index jumped over 6 per cent to 1,238.05 while Nifty Bank climbed over 4 per cent to 19,635
Business Standard brings to you a snapshot of stories that made to the headlines
Manufacturers have sent out SOPs and norms dealers must follow before starting operations; Maruti and Hyundai have already opened a few outlets, others are awaiting permission
The services such as aviation, hotels, malls, etc. would have to wait for a much longer time
The Gurugram-Manesar-Bawal belt, stretching up to Neemrana in Rajasthan, houses one of the largest auto clusters in India
Maruti Suzuki India (MSI), the country's largest carmaker, said it was suspending production at its facilities in Haryana "till further notice".