Maruti dips 1.8% after scales down market share guidance
India's largest car producer Maruti Suzuki declined as much as 1.8 percent intraday on Monday after the management scaled down market share guidance.
January 14, 2013 / 12:03 IST
India's largest car producer Maruti Suzuki declined as much as 1.8 percent intraday on Monday after the management scaled down market share guidance.
Chairman RC Bhargava told CNBC TV18 that car sales, especially petrol will continue to be sluggish in 2013. The demand fall in this segment has been a major cause of decline in Maruti’s market share, he opined."Petrol cars as an industry have declined by about 16 to 18 percent. The diesel growth has been 30 to 50 percent in different parts of the year and therefore, inadequate diesel manufacturing capacity has hit us," Bhargava said.He said we would now aim for 40 percent market share as against 50 percent aim earlier. However, yen depreciation is a big relief, to aid margins going ahead, he added. At 11:48 hours IST, the stock slipped 1.36 percent to Rs 1,544.70 on Bombay Stock Exchange.Also Read
Bull's eye: Buy IFCI, DCB, KPIT Cummins, short SAIL
Tater picks Philip Carbon, Indraprastha Gas as multibagger
Jaiprakash Power drops 10% post disappointing Q3 numbers Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
