Maruti Suzuki hits 14-month low; exit Rs 1 lakh crore market-cap club
.jpg)
Shares of Maruti Suzuki India have fallen to 14-month lows of Rs 3,202 after declining 6%, bringing down its market capitalisation (market-cap) below Rs 1 lakh crore on the Bombay Stock Exchange (BSE).
At 03:15 PM, the stock was trading at Rs 3,221, its lowest level since October 2014, with a market-cap of Rs 97,904 crore.
The Finance Minister Arun Jaitley announced a 1-4% infrastructure cess on cars across categories, as he presented the Budget for 2016-17 on Monday.
Finance Minister Arun Jaitley in his speech on Union Budget 2016-17 in Lok Sabha today, 29 February 2016, proposed to levy an infrastructure cess of 1% on small petrol, LPG, CNG cars, 2.5% on diesel cars of certain capacity and 4% on other higher engine capacity vehicles and SUVs.
A cess of 1% will be levied on petrol/LPG/CNG driven motor vehicles of length not exceeding 4 metres and engine capacity not exceeding 1200cc. A cess of 2.5% will be levied on diesel driven motor vehicles of length not exceeding 4 metres and engine capacity not exceeding 1500cc. A cess of 4% will be levied on other higher engine capacity and SUVs and bigger sedans.
Maruti Suzuki India’s market value has declined by Rs 25,872 crore to Rs 97,904 crore from Rs 123,776 crore as on January 31, 2016.
Thus far in 2016, the stock tanked 30% from Rs 4,616 as compared to 12% decline in the S&P BSE Sensex.
Other Latest News
.webp)
At least nine people were burnt alive and 15 injured when a moving bus caught fire near Tauru in Haryana's Nuh district in the early hours of Saturday, police said.
The incident occurred around 2 am on the Kundli-Manesar-Palwal (KMP) Expressway. The bus was carrying around 60 people, all residents of Punjab's Hoshiarpur and Ludhiana, who were returning from pilgrim towns of Mathura and Vrindavan. All of them are relatives, police said.
.webp)
Softbank-backed OYO is set to refile its much-awaited IPO as the global travel tech player is close to finalising its refinancing plans to raise up to $450 million via sale of dollar bonds, sources said.
JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said.
.webp)
The national capital on Saturday morning recorded a minimum temperature of 27.1 degrees Celsius, 0.6 notch above the season's average, according to the India Meteorological Department (IMD).
On Friday, Delhi witnessed 47.4 degrees Celsius in Najafgarh, making it the hottest place in the country.
.webp)
Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday.
The motion called for the royalty paid to its parent to climb to 5.25 per cent of net sales, net of taxes, compared to the current level of 4.5 per cent. The increase was proposed at a rate of 0.15 per cent per annum.
.webp)
Shares of Zee Entertainment soared up to 5.2 per cent at Rs 141.65 per share on the BSE in Saturday’s intraday trade. The hike in the stock prices came after the company delivered a turnaround in quarterly growth for the January-March quarter of fiscal year 2023-24 (Q4FY24).
In the March quarter, the company reported a consolidated net profit of Rs 13.35 crore, marking a reversal from a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal year.
.webp)
.webp)
.webp)
.webp)
.webp)
