Maruti Suzuki shares fell as much as 1.52 per cent to hit an intraday low of Rs 6,856.30.Shares of the country’s largest car maker, Maruti Suzuki, fell as much as 1.52 per cent to hit an intraday low of Rs 6,856.30 after the company informed exchanges that its production declined in August due to shortage electronic components. Its total production across the categories of cars declined 8 per cent on an annual basis to 1,13,937 units compared with 1,23,769 units in the same month last year.Production of mini and compact segment cars which include Alto, S-Presso, WagonR, Celerio, Ignis, Swift, Baleno and Dzire cars fell 24 per cent to 67,972 units.Production for passenger vehicles, which include, Gypsy, Ertiga, S-Cross, Vitara Brezza, XL6, Jimny and Eeco dropped 8 per cent to 1,11,368 units.Maruti Suzuki shares have so far this year declined 11.43 per cent sharply underperforming the Sensex which has jumped 22 per cent.Shortage of semiconductors, consistent price hikes along high price of petrol and diesel are impacting the demand for cars which has led to underperformance by Maruti Suzuki shares, analysts said.As of 12:59 pm, Maruti Suzuki shares traded 1.4 per cent lower at Rs 6,780, underperforming the Sensex which was down 0.4 per cent.
Source link
Strange India 