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Maruti Suzuki stock slips on products recall

Maruti Suzuki stock slips on products recall
PTI
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First Published: Thu, Apr 07 2011. 11 33 AM IST
Updated: Thu, Apr 07 2011. 11 33 AM IST
Mumbai: Carmaker Maruti Suzuki fell by over 2% in early trade on the Bombay Stock Exchange (BSE) on Thursday after the company said it will recall 13,157 units of three diesel-drive models -- Dzire, Swift and Ritz.
The scrip of the country’s largest car-maker slipped by 2.18% to an early low of Rs1,266.35 on the BSE.
Investors offloaded the company’s stock on the National Stock Exchange as well, where it dropped by 2.27% to a low of Rs1,268.
In an announcement to the stock exchanges after the market close, the company said, “Maruti Suzuki India will inspect the ‘Connecting Rod Bolt’ for 13,157 units of Swift Dzire, Swift and Ritz diesel cars with engines manufactured between 13 November, 2010, and 4 December, 2010.”
On Wednesday also, the scrip settled 1.40% lower on the BSE at Rs1,294.65 a piece.
Meanwhile, the BSE key index Sensex was quoting down by 43.97 points at 19,568.23 at 10:43 am .
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First Published: Thu, Apr 07 2011. 11 33 AM IST
More Topics: Markets | Maruti Suzuki | Carmaker | Auto | Shares |