Mileage scandal: Maruti not singed by Suzuki on Day 1, stock recovers
Shares of Maruti Suzuki India tumbled 4% on Wednesday after Suzuki Motor Corp chairman Osamu Suzuki confessed that the Japanese carmaker made inflated claims of fuel efficiency. The Maruti stock, however, recovered and closed the day only 1.1% in the red after fervent claims by the company that there will be no impact on India.
Maruti is India’s largest car maker, with nearly half the share of the market. Its market capitalisation is Rs1,18,324.76 crore on Wednesday’s stock price, almost equal to Uttarakhand’s GDP. FULL REPORT, P13