Shares of Maruti Suzuki today hit over 1-week low as the company has halted production in north India.
The stock fell as much as 2.5 per cent to its lowest since February 12. It is the top loser on the NSE index.
India’s biggest carmaker by sales has suspended production in north India amid protests by a l
Japan’s Suzuki Motor Corp fell 6.2 per cent to a one-week low on Monday.
Separately, Deutsche Bank has cut Maruti’s PT by 10 per cent to Rs 3,750 rupees ($54.62) and earnings forecasts by 10-14 pct due to the change in outlook for the yen.
Deutsche, in a report dated February 20, retained “hold’’ rating, said “still cautious’’, citing currency as well slower-than-expected industry recovery.