Maruti Suzuki is down in the red today morning. It slipped almost 4.5% to Rs.6780.20; it has recouped a bit but trades in the red at Rs.6850 levels. Its lower circuit is at 10% at Rs.6382.85 and 52-week low at Rs.6324.35.
The reason for this fall today is a news report in Business Standard, which said that due to dwindling demand the company has been forced to cut production by a quarter over March last year. Maruti is estimated to have cut production to around 126,000 units v/s more than 172,000 units, a cut of 27% (YoY).
Production in March 2019 is estimated to be the lowest since March 2015.
The news of production cut is not yet offocially confirmed by the company.