Maruti Suzuki recalls 2,555 Alto K10 cars, check stock reaction

Shares of Maruti Suzuki were trading marginally lower on Thursday after the company said it has issued a recall for 2,555 Alto K10 cars which are suspected to have a defect in the steering-gear box assembly. "The said defect, in a rare case, may affect the vehicle steerability," the company said in a filing on the National Stock Exchange.

Maruti Suzuki stock was trading 0.20% lower at Rs 12,351 against the previous close of Rs 12,376 on BSE. Market cap of the firm stood at Rs 3.87 lakh crore. Total 1083 shares of the firm changed hands amounting to a turnover of Rs 1.33 crore. 

In a year, the stock rose 29.35% and gained 38.35% in two years.

"The Company has announced to recall 2,555 Alto K10 vehicles wherein it is suspected that there is a possible defect in Steering Gear Box Assembly (“Part”). The said defect, in a rare case, may affect the vehicle steerability. Out of abundant caution, customers of the affected vehicles are advised not to drive or use the vehicle till the Part is replaced. Affected vehicle owners will be contacted by Maruti Suzuki authorized dealer workshops for inspection and replacement of the Part, free of cost," said the firm.