Latest News
-
1:3 Bonus Share, Rs 13.25/Share Dividend: Buy Maharatna PSU, TP Rs 355, Fundraise Approved -
Results, Dividend, Fundraise On April24: Buy Top Bank Stock Amid Rich Valuation, TP Rs 1400: Nomura -
1:4 Bonus Shares, Rs 7 Dividend: Big Update Announced; Buy The FMCG Stock? -
1:10 Stock Split: 1 Rs 980 Smallcap Has Split Into Ten Shares; Check Out New Price Level, Fundamentals! -
Rs 2.50/Share Final Dividend: Record Date In Due Course; Buy The ITC Group Stock? -
Rs 95/Share Dividend: Record Date On 28th June; Buy Mahindra Group Stock To Be Eligible? -
5 Bonus, Rs 28/Sh Dividend: IT Giant Infosys Beats Estimates In Q4FY24, But ADR Falls Sharply; Here's Why! -
1:10 Stock Split Approved: Small Cap Stock Issues Warrants, Shares Gain 111% YTD -
Wipro Q4 Results Preview: Weak Demand Likely To Drag Revenue Sequentially, EBIT Margins Seen Stable -
Rs 6/Share Final Dividend Declared: Buy The Blue Chip Stock To Be Eligible?
Maruti Suzuki Slips 4% Despite Resuming Operations At Manesar Plant
Shares of Maruti Suzuki India Ltd fell over 4 percent on Tuesday even as the company resumed operations in its Manesar plant in Haryana after around 40 days of closure due to the nationwide lockdown.
Operations of the country's largest carmaker were suspended at its Manesar as well as Gurugram facilities since 22 March.
The facility has commenced operations on a single shift basis with up to 75 percent employees allowed currently, Maruti Suzuki India (MSI) Chairman R C Bhargava told PTI.
When asked about the timeline of full-swing operations, Bhargava told the news agency that would depend on government regulations like when two shifts would be allowed, when manpower could be increased and when supply chain would become fitter. "There are many variables involved."
On 22 April, despite the Haryana government's permission to reopen its facility, the company had said it will resume operations only when it can maintain continuous production and sell vehicles, "which is not possible at this point of time".
Maruti Suzuki is scheduled to declare its financial results for the March quarter and recommend dividend, if any, on 13 May.
Brokerage firms expect the company to report a decline in revenues. Kotak Institutional Equities sees a likely revenue decline of 12 percent on a year-on-year basis for the last quarter of 2019-20 and Nomura is of the view that it will fall 13 percent on the back of volume drop.
