Home >Markets >Stock Markets >Maruti shares decline nearly 3% on production cut in February

Maruti shares decline nearly 3% on production cut in February

  • The country's largest carmaker cut production by over 8% in February on account of subdued demand
  • The stock was the worst hit on Monday among the frontlines on both key indices.

NEW DELHI : Shares of Maruti Suzuki India (MSI) fell nearly three per cent Monday amid production cut in February on account of subdued demand.

On BSE, the stock declined 2.56% to close at 6,910.35. Intra-day, it dropped 4.39% to 6,780.20.

On NSE, the scrip declined 2.56% to settle at 6,902.

The stock was the worst hit on Monday among the frontlines on both key indices.

The country's largest carmaker cut production by over 8% in February on account of subdued demand.

The auto major produced a total of 1,48,959 units, including Super Carry LCV, across its factories last month, down 8.3 per cent from 1,62,524 units produced in the year-ago period, as per an analysis of the company's data on BSE.

The production of passenger vehicles including Alto, Swift, Dzire and Vitara Brezza declined 8.4% to 1,47,550 units as compared with 1,61,116 units in February 2018.

MSI declined to comment on the reasons for taking this production cut.

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