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Maruti Suzuki refuses to confirm Gujarat plant reports, stock hits 52-week low

The stock of Maruti Suzuki today opened 0.50% higher at Rs 5,795 against the closing price of Rs 5,766.60 recorded yesterday. However, it later fell 65 points to its 52-week low of Rs 5,701 on both BSE and NSE, respectively.

twitter-logoBusinessToday.In | July 25, 2019 | Updated 14:00 IST
Maruti Suzuki refuses to confirm Gujarat plant reports, stock hits 52-week low
Moreover, the stock price is trading in-line with the Auto sector index, down by 0.28% on NSE and at a decline of 0.16% on the BSE.

Maruti Suzuki stock price fell to its 52-week low of Rs 5,701 on Thursday, as the vehicle manufacturer refused to confirm if its parent company Suzuki Motor had dropped the plan to double manufacturing capacity.

A LiveMint report on Thursday had claimed that Suzuki Motor Corp had to restrict the capacity to 750,000 vehicles a year at its Gujarat plant rather than increasing it to 1.5 million vehicles, the report had said.

"We would like to clarify that it's a media news and the Company has not made any official announcement on this matter," Sanjeev Grover Vice President & Company Secretary, Maruti Suzuki, said in a regulatory filing.

The stock of Maruti Suzuki today opened 0.50% higher at Rs 5,795 against the closing price of Rs 5,766.60 recorded yesterday. However, it later fell 65 points to its 52-week low of Rs 5,701 on both BSE and NSE, respectively.

The stock price of Maruti Suzuki has lost over 40 % value in a year's period. Maruti stock currently trades lower than its 5, 20, 50, 100 and 200-day moving average.

The Maruti Suzuki stock currently trades at Rs 5,730 on BSE and at Rs 5,733 on NSE.

Moreover, the stock price is trading in-line with the Auto sector index, down by 0.28% on NSE and at a decline of 0.16% on the BSE.

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