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Maruti Suzuki share price slumps to two-week low after firm recalls 5,900 Super Carry units

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Published: December 26, 2018 11:55:05 AM

Maruti Suzuki share price slumped to a fresh two-week low of Rs 7,402 on Wednesday morning, after the firm  announced recalling of 5,900 units of its light commercial vehicle Super Carry to replace faulty fuel filter.

maruti cng models sales cross 5 lakh mark in indiaMaruti Suzuki share price slumped by more than 1.7% to Rs 7,402, intra-day. (Image: Reuters)

Maruti Suzuki share price slumped to a fresh two-week low on Wednesday morning, after the firm  announced recalling of 5,900 units of its light commercial vehicle Super Carry to replace faulty fuel filter. Maruti Suzuki share price slumped by more than 1.7% to Rs 7,402. Maruti Suzuki India (MSI) said it is recalling 5,900 units of its light commercial vehicle Super Carry to replace faulty fuel filter. Maruti Suzuki shares slumped to their lowest level since December 12th. The shares are down about 22.62% this year as of last close, while the broader NSE index is up 1.26% in the same period.

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The company will inspect a possible defect in fuel filter of 5,900 Super Carry vehicles manufactured between April 26, 2018, and August 1, 2018, MSI said in a regulatory filing. The recall also includes vehicles in which fuel filter has been replaced in field during this period, it added. Earlier in October, Maruti Suzuki India had announced recall of 640 units of Super Carry to fix a possible defect in the fuel pump supply. The recall covered Super Carry units manufactured between January 20 and July 14, 2018. The firm rolls out Super Carry from its Gurugram facility. The vehicle comes equipped with a 793-cc diesel engine, according to a PTI report.

According to a recent report by Motilal Oswal, Maruti Suzuki shares have created wealth to the tune of Rs 2,308 billion in the last 5 year period. Notably, Maruti Suzuki also ranks among the ‘most consistent wealth creators’ with a 10-year price CAGR of 27%, according to Motilal Oswal’s 23rd annual wealth creation study.

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