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Maruti Suzuki stock slides 2.3% to hit 10-month low
Posted on 20th September 2018
Shares of Maruti Suzuki, which rose over ten-fold in six years through 2017, seem to have lost the steam. The stock has corrected close to 16% since January after its record-setting run, beating the Nifty returns for six years in a row. Among its most stellar returns were a gain of 88.8% in 2014 and 82.9% in 2017.

The Maruti Suzuki stock slid 2.3% on Wednesday to hit a ten-month low of Rs 8,210.35 on NSE. The share price of the country’s largest car maker was down 16.5% from its July 24 record of Rs 9832.45 even as the benchmark indices continue their record-breaking rally. The company has seen an erosion of Rs 49,000 crore in its market capitalisation from its July peak.

Market participants observe the extended weakness in the rupee, rising crude oil prices and lingering tariff war between the US and China have made the stock less attractive to the investors.

Barring two, the stock of Maruti ended in the red in every trading sessions so far in September. The stock fell 9.7% since the beginning of the month, making it the worst performer in the Nifty Auto index in month-to-date.

The trade war between China and the US will affect all nations, Maruti Suzuki chairman R C Bhargava said during the company’s 37th annual general meeting (AGM) in New Delhi last month, adding “uncertainty in oil prices will also adversely hit growth of auto industry and the economy.”

The benchmark Nifty50 has gained 6.7% since January. The Brent crude which is hovering close to $79 per barrel has increased over 11% since August 15.

Deutsche Bank opined strengthening yen against rupee will make imports of parts from Japan costlier. “A one per cent gain in the yen versus the rupee leads to a 0.7% drop in Maruti’s earnings per share,” the brokerage said in a recent note.

The Japanese yen has strengthened 13.7% against the rupee since the beginning of 2018.

While the stock of Maruti Suzuki rose at a compound annual growth rate (CAGR) of 45.5% between 2013-17, the Nifty50 gained 12.3% during the same period. In fact, when the benchmark yielded a negative return of 4.06 in 2015, Maruti Suzuki rose 38.8%.

Related Companies: Maruti Suzuki India Limited   

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Air India offer: Grab cheap late night flight tickets for as low as Rs 1,379; check routes, flight details
Posted on 18th December 2018
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Mukesh Ambani’s RIL in talks with Saudi Arabia for new refinery, petrochemicals projects
Posted on 18th December 2018
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PM Modi to launch projects worth Rs 41,000 cr in Maha tomorrow
Posted on 18th December 2018
Mumbai: In the lead up to the Lok Sabha and the state assembly elections next year, Prime Minister Narendra Modi on Tuesday will launch infrastructure and housing projects worth around Rs 41,000 crore in the state.

Modi, who will be in the state, will lay the foundation stone for Thane-Bhiwandi-Kalyan metro 5 and Dahisar-Mira Bhayander metro-9 in Kalyan in the neighbouring Thane district.

SBI may buy out Canara Bank’s loans in Ratnagiri Gas
Posted on 18th December 2018
Mumbai: State Bank of India (SBI) is looking to buy out Canara Bank’s loans of about ₹400 crore in Ratnagiri Gas and Power Pvt. Ltd (), the erstwhile Dabhol Power Co., said two people in the know. This is expected to be the first resolution under the inter-creditor agreement (ICA), which is part of the government’s Project Sashakt aimed at resolving bad loans.

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