BOM:532500

Maruti Suzuki India's Consolidated Profit Drops in Fiscal Q1

Maruti Suzuki India (NSE:MARUTI, BOM:532500) consolidated profit attributable to the owners fell to 34.5 billion Indian rupees in the fiscal first quarter ended June 30 from 37.9 billion rupees a year ago.Earnings per share inched up to 109.63 rupees from 120.62 rupees a year earlier, according to an Indian bourse filing on Friday.The carmaker's total revenue from operations increased to 524.7 billion rupees from 386.1 billion rupees a year ago.

Market Chatter: Maruti Suzuki Ordered to Replace Car or Pay Damages in E20 Fuel Case

An Indian consumer court has ordered Maruti Suzuki India (NSE:MARUTI, BOM:532500) to replace a customer's vehicle or pay 2 million Indian rupees in compensation after finding that mandatory E20 fuel damaged the car, local media reported Thursday, citing the court's order.According to reports, the consumer court in the state of Chhattisgarh ruled in favor of the owner of a Grand Vitara SUV, who alleged that E20 fuel caused damage to the vehicle.Maruti denied the allegations in a statement to Reuters, saying the Grand Vitara involved in the case was E20-compatible and designed to operate on the fuel, as stated in the owner's manual.The ruling could set a precedent for greater automaker liability under India's ethanol-blended fuel policy, which promotes E20 fuel, to reduce crude oil imports and lower emissions, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Maruti Suzuki Starts Bookings for New Brezza SUV

Maruti Suzuki India (BOM:532500, NSE:MARUTI) opened bookings for the new Brezza compact SUV, according to a Tuesday press release.Customers can book the vehicle at Maruti Suzuki ARENA dealerships or online with a booking amount of 11,000 rupees, the statement said.

Maruti Suzuki India's Total Sales Rise in June

Maruti Suzuki India's (NSE:MARUTI, BOM:532500) total sales rose to 200,390 units in June from 167,993 units sold a year ago.Domestic sales grew to 157,622 units from 130,151 units a year earlier, while exports increased to 42,768 units from 37,842 units, according to a Wednesday filing to the Indian stock exchanges.Shares of the company rose nearly 2% in recent trade.

Jefferies Upgrades Maruti Suzuki India to Buy From Hold, Adjusts Price Target to INR16,500 From INR13,800

Maruti Suzuki India (NSE:MARUTI, BOM:532500) has an average rating of buy and mean price target of 15,813.95 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Maruti Suzuki India Launches Flex-Fuel Wagon R in India

Maruti Suzuki India (NSE:MARUTI, BOM:532500) launched a flex-fuel version of the Wagon R, which can operate on ethanol-petrol blends, according to a company statement on Thursday.The company said the model is India's first flex-fuel passenger vehicle.Flex-fuel vehicles are designed to run on varying ethanol-petrol blends, from E20 to E100, reducing dependency on conventional fuels, according to the filing.

Maruti Suzuki Posts Record May Sales on Robust Domestic Demand

Maruti Suzuki India's (NSE:MARUTI, BOM:532500) total sales rose to a record 242,688 units in May from 180,077 units a year earlier, marking its highest-ever monthly sales, according to a filing with the Indian stock exchanges on Monday.Domestic sales reached an all-time high of 200,774 units, up from 148,858 units in the corresponding month last year.Exports increased to 41,914 units from 31,219 units a year ago.

Maruti Suzuki India Begins Commercial Production at Second Kharkhoda, India Plant

Maruti Suzuki India (NSE:MARUTI, BOM:532500) has begun commercial production at the 250,000 units per annum capacity second plant of its manufacturing facility at Kharkhoda in Haryana, India, according to a Monday filing to the Indian stock exchanges.In February, the car manufacturer started commercial production at the Kharkhoda unit's first plant with a capacity of 250,000 units per annum. Maruti Suzuki currently manufactures the compact sports utility vehicle (SUV) Brezza and mid-SUV Victoris at the facility.With the increase of Kharkhoda unit's capacity to 500,000, the company's total annual production capacity has increased to 2.65 million units.Once fully operational, the Kharkhoda facility is estimated to have a production capacity of around 1 million vehicles per annum.The company's shares were down nearly 2% in recent trade.

Nomura Adjusts Maruti Suzuki India's Price Target to INR13,435 From INR16,118, Keeps at Neutral

Jefferies Adjusts Maruti Suzuki India's Price Target to INR13,800 from INR16,000, Keeps at Hold

Maruti Suzuki India's Consolidated Profit Declines in Fiscal Q4; EPS Misses Estimates

Maruti Suzuki India (NSE:MARUTI, BOM:532500) consolidated attributable profit declined to 36.6 billion Indian rupees in the fiscal fourth quarter ended March 31, against 39.1 billion rupees a year ago.Earnings per share contracted to 116.38 rupees compared with the year-ago figure of 124.40 rupees, according to a Tuesday filing to the Indian stock exchanges by the car manufacturer.The EPS was lower than the 129.42 rupees estimated by analysts polled by Visible Alpha.Revenue from operations in fiscal Q4, however, jumped to 524.6 billion rupees from 409.2 billion rupees a year earlier. Analysts polled by Visible Alpha estimated 508.8 billion rupees.The board recommended a dividend of 140 rupees per share for the fiscal year ended March 31, compared with 135 rupees per share in the prior year.Shares of the company were down nearly 3% in after-market hours