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Maruti shares fall on drop in August sales

Maruti shares fall on drop in August sales
PTI
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First Published: Fri, Sep 02 2011. 10 36 AM IST
Updated: Fri, Sep 02 2011. 10 36 AM IST
Mumbai: Shares of car-maker Maruti Suzuki India fell by over 2% in morning trade on the bourses on Friday after the company reported a 12.74% fall in sales for August due to the ongoing labour unrest at its Manesar plant, which has affected production.
The stock, which made a weak opening, lost further ground and fell by 2.3% to an early low of Rs 1,067.15 on the Bombay Stock Exchange (BSE). Similarly, the stock went down by 2.24% to an early low of Rs 1,067.05 on the National Stock Exchange (NSE).
Maruti Suzuki India on Thursday reported a 12.74% fall in sales to 91,442 units in August.
The company had sold 1,04,791 units in the same month last year.
“The disruption in production at the company’s Manesar plant in end-August adversely impacted sales numbers during the month,” the company had said.
The fall in the company’s scrip was in sharp contrast to the overall bullish trend in the market, with the BSE benchmark Sensex trading higher by 103.87 points at 16,780.62 at 1012 hours.
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First Published: Fri, Sep 02 2011. 10 36 AM IST
More Topics: Stocks | Maruti Suzuki | Auto | Sales | Money Matters |