"The projects are selected based on need-assessment and stakeholder consultation. These are closely monitored by the company and third party impact assessment is carried out," MSI MD and CEO Kenichi Ayukawa said in a statement.
The auto major had launched its BS VI compliant range, starting with Alto 800 and Baleno in April 2019.
CLSA sees potential for company to strengthen its India franchise on such launches and said Maruti is the best way to play a potential demand recovery.
The company sold 1.22 lakh units in September 2019, falling 24.4 percent compared to 1.62 lakh units sold in same month last year, but the same increased by 15.2 percent compared to previous month due to low base.
The Nifty might have turned negative for 2019, but almost 60% of index constituents are in a bear grip as registered by the 'Death Cross' formation
Ayukawa further said once the "regulatory end-objective" is taken care of, which design or technology is used should be left open to the customer to choose.
Maruti Suzuki India's export was down 10.8 percent at 9,352 units against 10,489 units.
Decent volume participation while giving breakout in Maruti also gives support to this bull thesis
Bhargava was responding to a query on whether the current slump and production cuts have led to job cuts in Maruti.
Production of mini and compact segment cars, including Alto, New WagonR, Celerio, Ignis, Swift, Baleno, Dzire, stood at 95,733 units as against 1,27,715 units in July last year, down 25 percent.
The only segment that registered a half a percent growth was light commercial vehicle, under which it sells Super Carry.
The Ministry of Road Transport and Highways (MoRTH) released a draft notification dated July 24 to increase vehicle registration fees.
Other income increased to Rs 836.4 crore in Q1, against Rs 271.8 crore in year-ago period.
Narnolia expects revenue to decline 13 percent YoY largely driven by contraction in volume growth
Mahindra and Mahindra Ltd, India's third largest automaker, plans to stop production of some diesel vehicles.
In Apil-June period, Maruti said its total sales plummeted 17.9 percent to 4.02 lakh units compared to 4.9 lakh units sold in the same quarter last year
The research house also slashed its price target on the stock by 27.5 percent to Rs 5,800 from Rs 8,000 per share earlier, implying 13 percent potential downside from current levels.
Deutsche said market share decline could trigger further de-rating and margin is likely to remain under pressure
Earlier this month, MSI had slashed its vehicle production by around 10 per cent in April. It was the company's third consecutive month of taking a production cut.
He further said, 'So, we need to deliberate in every vehicle segment like commercial vehicles, passenger vehicles, two-wheelers and three-wheelers on how to generate volumes.'
KR Choksey is bullish on Maruti Suzuki India has recommended buy rating on the stock with a target price of Rs 7984 in its research report dated April 26, 2019.
ICICI Direct is bearish on Maruti Suzuki India has recommended sell rating on the stock with a target price of Rs 5815 in its research report dated April 26, 2019
Commenting on Maruti Suzuki's announcement to discontinue diesel cars from next April, Bhargava said the impact of this decision on volumes would be known from July.