Maruti shares down nearly 3% in early trade

Shares of car maker Maruti Suzuki India today fell by nearly 3% in early morning trade amid a one day production shut-down at its two plants at Gurgaon and Manesar today ahead of a six-day scheduled maintenance closure later this month.

Shares of car maker Maruti Suzuki India today fell by nearly 3% in early morning trade amid a one day production shut-down at its two plants at Gurgaon and Manesar today ahead of a six-day scheduled maintenance closure later this month.

After making a weak opening, shares of the company further lost 2.62% to Rs 1,545.50 on the BSE.

At the NSE, the scrip went down by 2.65% to Rs 1,545.

The stock was the top loser among blue-chips on Sensex during the morning trade.

The one day shut-down of the two plants today is to adjust production to market demand, a company spokesperson had said, adding that the plants will also remain closed on June 8 for a scheduled holiday.

The development comes in the wake of continued slump in the automobile market. MSI had reported 14.4% decline in its total sales in May this year at 84,677 units. It's domestic sales declined 13 per cent at 77,821 units, over 89,478 units in May, 2012.

Meanwhile, in the broader market, the BSE 30-share Sensex was trading at 19,571.25, up 51.76 points at 1055 hrs.