Shares of Maruti Suzuki India declined over 3%, touching the monthly low of Rs1205.40, on reports that the company have downscaled its proposed investment plans in Mehasana, Gujarat.
India’s largest car maker had originally announced that it planned to set up a one million cars per year plant at an investment of Rs 6,000 crore in the first phase of its expansion in the state, lowered its production capacity to 1 lakh cars per year.
“The Mehsana plant will have the capacity to produce 1 lakh cars in a year initially as against 10 lakh cars planned earlier,' the report suggests quoting senior official of the company.
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India’s largest car maker had originally announced that it planned to set up a one million cars per year plant at an investment of Rs 6,000 crore in the first phase of its expansion in the state, lowered its production capacity to 1 lakh cars per year.
“The Mehsana plant will have the capacity to produce 1 lakh cars in a year initially as against 10 lakh cars planned earlier,' the report suggests quoting senior official of the company.
....more info