Troubles mount for Maruti Suzuki as share prices fall

| Friday, June 3, 2016 - 12:51
First Published |
Maruti Suzuki suspends production , Baleno, Swift Dzire, Maruti Suzuki Baleno,

Maruti Suzuki suspends production

New Delhi: Troubles seem to be compounding for Indian automobile maker Maruti Suzuki. The automaker made headlines previously for recalling around 77,000 models of its recently launched Baleno and Swift Dzire cars for faulty air-conditioning kits and airbags.

Now, the car-maker has suspended the production of cars at its Manesar and Gurgaon plants, citing the disruption of supplies from its supplier Subros which makes air conditioning kits for car makers.

(Also read: Maruti Suzuki make India's biggest recall of 77,380 cars)

Following this development, shares of Maruti Suzuki ended 1.8% lower at Rs 4,071.75 and Subros tumbled 4.89% to Rs 88.55. In comparison Sensex ended 0.27% higher.

"Owing to an unfortunate incident of fire at the Manesar facilities of supplier Subros on Sunday (May 29), supplies of components from that plant have been disrupted. As a consequence, Maruti Suzuki India Limited will have to temporarily suspend manufacture of cars at its facilities in Manesar and Gurgaon, starting second half Monday (May 30)," the car maker said in a statement to Bombay Stock Exchange.

(Also read: Massive fire breaks out at Subros air conditioning plant in Manesar)

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