Moneycontrol Bureau
Shares of Maruti Suzuki bounced back on Wednesday after shedding nearly 7 percent in previous four consecutive sessions. The stock gained 0.8 percent intraday today after resumption of production at its two facilities in northern India.
"Maruti has resumed production of vehicles at its facilities in Gurgaon and Manesar, starting February 23 (second half). The supply of components has started gradually," the country's largest car manufacturer said in its filing.
It had to suspend operations at these facilities from February 20 (second half) as supply of certain components was disrupted due to agitation in Haryana.
So far, due to disruption the company has faced total production loss of almost 10,000 units at its Gurgaon and Manesar plant, Kuldeep Janghu, General Secretary of Maruti Suzuki Udyog Kamgar Union said in an interview to CNBC-TV18 on February 23.
According to him, temporary disruption will not have any impact on company's sales.Not only Maruti but also Hero Motocorp, Asian Paints' production got affected due to Jat quota stir that started last week.
In January, Maruti's total sales declined 2.6 percent as lesser number of working days during the month impacted overall production and dispatch.
At 11:26 hrs Maruti Suzuki India was quoting at Rs 3,496.10, up Rs 3.60, or 0.10 percent.Posted by Sunil Shankar Matkar
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