Maruti Suzuki Share Slips 2.45% as Sell-Side Pressure Weighs; Automaker Onboards Five Start-ups

Mumbai, June 29: Shares of Maruti Suzuki India (NSE: MARUTI) were down Rs 337.00 or 2.45% at Rs 13,408.00 in Monday’s session, with an indicative close of Rs 13,412.00, as sell-side volume dominated the counter through the day amid broader market softness, even as India’s largest carmaker announced a fresh batch of startup partnerships under its incubation programme. 

Maruti opened at Rs 13,740.00, climbed to an intraday high of Rs 13,840.00 in early trade, but quickly reversed lower and spent the bulk of the session in a steady decline, touching an intraday low of Rs 13,404.00. The volume-weighted average price (VWAP) for the day stood at Rs 13,526.99, against a previous close of Rs 13,745.00. Check out the intraday chart below. 

Maruti Suzuki Order Book 

Monday’s order book on Maruti Suzuki leans to the sell side, with 55.45% of total orders or 31,072 shares on the offer, while buy-side volume accounts for 44.55% or 24,964 shares. The bid price is set between Rs 13,396.00 and Rs 13,400.00, while the ask comes in between Rs 13,403.00 and Rs 13,407.00. 

Maruti Suzuki Weekly Chart 

Maruti Suzuki’s weekly chart shows a volatile pattern over the past five sessions. The stock opened the week of June 22 near Rs 13,420.00, held relatively steady through June 23, then dipped sharply to around Rs 13,200.00 on June 24 before staging a sharp recovery into Friday’s close near Rs 13,745.00. 

Monday’s session has erased Friday’s recovery, with the stock sliding back toward the week’s lows near Rs 13,404.00. The indicative close of Rs 13,412.00 suggests the counter may settle near the lower end of its recent weekly range.

Maruti Onboards Five Start-ups Under Incubation Programme 

Separately, car market leader Maruti Suzuki India on Monday said it has onboarded five startups to co-create solutions across multiple business areas to enhance operational efficiency and elevate customer experience, according to the Press Trust of India. The five startups are MiniMines, Easework AI, Sarvam AI, Siftly and CodeMate AI, announced as winners of the 5th cohort of the Maruti Suzuki Incubation Program (MSIP). 

Maruti Suzuki India Managing Director and CEO Hisashi Takeuchi said the company has been actively working with startups to co-create innovative and practical solutions to address real business challenges. “One of these startups, MiniMines, will support us in safely recycling end-of-life batteries, while the other four startups will help improve customer engagement and drive efficiency across our business operations,” Takeuchi said, as per PTI. 

Source

•  https://www.nseindia.com/get-quote/equity/MARUTI/Maruti-Suzuki-India-Limited