Maruti skids into the red

Maruti Suzuki is not doing too well today morning. The stock opened at Rs.1605 but soon slipped to Rs.1557.30, down over 3%.

The stock is down in the red today after it posted a third consecutive fall in monthly sales for May. The company reported a 14.4% decline in total sales in May’13 at 84,677 units v/s sales of 98,884 units in May’12. There was a 13% decline in domestic sales and exports fell sharper, down by 27%. Total passenger car sales dropped 8%.