Maruti Suzuki Shares Slip Amid Weak Domestic Sales and Market Pressure

Market Update: Maruti Suzuki India Ltd

Maruti Suzuki, India’s largest carmaker, witnessed a sharp decline in its stock price, slipping 2.3% intraday to ₹15,110 on the NSE. The fall comes ahead of its Q2 earnings announcement and follows disappointing September sales data.

Key Highlights:

• Stock Performance: Shares dropped from a previous close of ₹15,469 to ₹15,110, marking a ₹359 decline.
• Domestic Sales Pressure: September 2024 domestic sales fell 1.2% YoY, with passenger vehicle volumes down 4% YoY.
• Segment Trends:
• Entry-level cars: Flat growth.
• Premium segment: Declined 12% YoY.
• SUVs: Grew 4% YoY, offering some resilience.
• Exports: Strong performance with 23% YoY growth, totaling 27,728 units.
• Analyst Outlook: Q2 results expected to show flat revenue and up to 5% decline in net profit, driven by lower volumes in entry-level and utility vehicles.
• Market Sentiment: Broader indices also traded lower, reflecting global uncertainty and cautious domestic investor mood.

Sources: Moneycontrol, The Economic Times, Business Upturn