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Maruti Suzuki share price falls 3% on weak June output

Maruti Suzuki shares trade higher than 5, 20, 50 and 100-day but lower than 200-day moving averages. The large cap stock has fallen after 2 days of consecutive gain

twitter-logoBusinessToday.In | July 8, 2020 | Updated 17:06 IST
Maruti Suzuki share price falls 3% on weak June output
Maruti Suzuki stock has fallen 17% year-to-date

Share price of Maruti Suzuki India (MSIL) fell in Wednesday's bearish session after the car maker reported a 55% fall in its total output to 50,742 units in June 2020 compared to 1,11,917 units during June 2019.

However, on a sequential basis, production rose 1266% from 3,714 units in May 2020.

Maruti Suzuki stock price has rallied 53 per cent from March lows of Rs 4,002 apiece, with market capitalisation at nearly Rs 1.86 lakh crore.

Total passenger vehicle production fell 54.87% to 49,476 units in June 2020 compared to 1,09,641 units in June 2019.

Following the slump in output, Maruti Suzuki share price touched an intraday low of Rs 6026.1, falling 3.21% against the earlier closing of Rs 6,225.75 on BSE. The stock touched an intraday high of Rs 6,230 on BSE.

Maruti Suzuki shares trade higher than 5, 20, 50 and 100-day but lower than 200-day moving averages. The large cap stock has fallen after 2 days of consecutive gain

Maruti Suzuki stock has fallen 17% year-to-date.

Total sales fell 54% to 57,428 units in June 2020 against 124,708 units in June 2019. While total domestic sales tanked 53.7% to 53,139 units in June 2020, declined 56.64% to 4,289 units.

The company earlier informed exchanges that it shut down production and office operations at its facilities in Haryana from 22 March, 2020 onwards, due to the lockdown caused by COVID-19 pandemic. On 12 May 2020, the automaker restarted production at its Manesar plant.

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