Maruti Suzuki falls on muted sales outlook

Shares in Maruti Suzuki India Ltd fail to hold on to earlier gains and are down 2.2% after analysts raised concerns about the carmaker's cautious outlook on car sales.

Shares in Maruti Suzuki India Ltd fail to hold on to earlier gains and are down 2.2% after analysts raised concerns about the carmaker's cautious outlook on car sales.

HT Image

Although investors initially reacted positively to April-June results that showed a 49% rise in net profit, analysts warned Maruti Suzuki's cautious outlook on car demand could weigh on shares in the near-term.

A rise in discounts to push sales amid softening demand in diesel vehicles is also seen weighing on Maruti Suzuki shares, analysts add.

Company expects sales volumes to grow up to 5% in the current financial for domestic market.