Maruti Suzuki shares fall 4% on announcement of two-day production suspension; market-cap drops by Rs 6,645 cr

  • Maruti Suzuki was the worst hit among the frontline companies on both the key indices during the day

  • The company said it will halt manufacturing operations at the two facilities on 7 and 9 September

  • Reeling under severe slowdown, the auto major had reduced its production by 33.99 percent in August, making it the seventh straight month of reduction in output

New Delhi: Shares of Maruti Suzuki India (MSI) declined 4 percent on Wednesday after the company said it will suspend production at its Gurugram and Manesar plants in Haryana for two days.

The scrip fell 3.64 percent to close at Rs 5,829.75 on the BSE. Intra-day, the stock tumbled 4.15 percent to Rs 5,798.25.

On the NSE, shares dropped 4 percent to close at Rs 5,805.20.

 Maruti Suzuki shares fall 4% on announcement of two-day production suspension; market-cap drops by Rs 6,645 cr

Representational image. Reuters.

It was the worst hit among the frontline companies on both the key indices during the day.

The company's market valuation dropped Rs 6,644.88 crore to Rs 1,76,105.12 crore on the BSE.

The company said it will halt manufacturing operations at the two facilities on 7 and 9 September.

"Both days will be observed as no production days," it said in a statement.

Reeling under severe slowdown, the auto major had reduced its production by 33.99 percent in August, making it the seventh straight month of reduction in output.

Updated Date: Sep 04, 2019 17:40:59 IST