Maruti Suzuki India (MSI) India’s largest carmaker shares rose 2 per cent in early deals. The company said is raised production in November by 4.3 per cent, after having reduced output for nine straight months due to lower demand. Maruti produced a total of 1,41,834 units in November as against 1,35,946 units in the year-ago month, it said in a filing to the exchanges.
At 09:56 am, Maruti Suzuki’s stock was a shade higher than 2 per cent at Rs 7,023. The Sensex, on the other hand, was a tad lower at 40,424.29 points.
Since September quarter of 2018-19 decline domestic automobiles sales due to an overall slowdown in consumption and liquidity crisis at financial institutions after the collapse of Infrastructure Leasing and Financial Services Ltd. Maruti’s wholesales from April to October 2019 fell 20.4 per cent to 958,373 vehicles. The production of vehicle increase in November follows a 4.5 per cent year on year growth in wholesales, or industry dispatches, of Maruti in October to 144,277 units. However, in November Maruti’s wholesales declined 3.2 per cent year on year to 141,400 units.