Maruti Suzuki falls on outlook concerns
Reuters Market Eye - Maruti Suzuki shares fall 1.5 percent on concerns about the domestic passenger car sales outlook.
Angel Broking says Maruti Suzuki expects "muted" volume growth of around 6 percent in fiscal 2013 and 6-7 percent in fiscal 2014, according to a note on Monday, citing the automaker's management.
The fiscal 2013 growth expectations are in line with Angel's forecasts but the 2014 volumes would be below the brokerage's 10-12 percent growth expectations.
"The management expects the domestic demand environment to remain challenging going ahead due to macroeconomic pressures and higher fuel prices. Further, the exports growth will also remain under pressure due to economic concerns in Europe," Angel says.
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Mumbai hit by big power cuts after technical glitch at Tata Power unit
- Sensex surges past 27,000 to third consecutive life high
- Japan and India vow to boost defence ties during summit
- Putin comment on "taking Kiev in 2 weeks" taken out of context - aide
The BSE Sensex on Tuesday breached the psychologically key level of 27,000 points for the first time to hit its third consecutive record high as blue-chips such as HDFC Bank gained after recent data raises hopes about the economy. Full Article