Maruti Suzuki Expects Chip Shortage To Adversely Impact October Production In Haryana & Gujarat

Shares of Maruti Suzuki India Ltd. shed nearly 3.3% to Rs 7,097.65 apiece after the company said in an exchange filing post market hours Thursday that it anticipated an adverse impact due to electronin components supply constraint on vehicle production in October in both Haryana and its contract manufacturing company in Gujarat.

Maruti Suzuki estimated the total vehicle production volume across both these locations to be around 60% of normal production.

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Of the 48 analysts tracking the company, 29 maintained ‘buy’, eight maintained ‘hold’ and 11 maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 4.9%.

Maruti Suzuki Expects Chip Shortage To Adversely Impact October Production In Haryana & Gujarat via @goldsilverrepor
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