Maruti Suzuki slips after company recalls 16,000 Baleno and WagonR units—check out target price

Maruti Suzuki share price today, Maruti Suzuki recall news: Shares of Maruti Suzuki India, the country’s largest carmaker, took a back seat on Tuesday, March 26, after the automaker recalled 11,851 units of Baleno and 4,190 units of WagonR produced between July 30, 2019, and November 1, 2019, last week.

Reacting to the development, the auto stock traded 1.59 per cent lower in the early morning deals on the NSE to the day's low of Rs 12,141.2. At 9:45 AM, the counter traded 1.25 per cent lower at Rs 12,183.30 on the NSE.

The company has identified a defect in the fuel pump motor component, which, although rare, could result in engine stalling or starting issues.

The automaker assured affected vehicle owners that they would be promptly contacted by Maruti Suzuki's authorised dealer workshops for the replacement of the faulty part at no additional cost. This proactive measure aims to address safety concerns and ensure the optimal performance of the vehicles. Read more

Maruti Suzuki share price target

Macquarie has maintained a neutral rating on Maruti Suzuki with a target price of Rs 10,608.

Maruti Suzuki auto sale in February

Maruti Suzuki India registered total sales, including passenger vehicles and light commercial vehicles, of 1,68,544 units in February 2024, an increase of 8.7 per cent on a year-on-year basis.

Maruti Suzuki India's total sales in the UV segment, comprising its Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross, and XL6 models, come in at 61,234 units in February 2024, a sharp increase from 33,550 units in February 2023.

Maruti Suzuki India registers sales of 71,627 units in its compact unit, which comprises the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR cars.

The segment saw sales of 79,898 units in February 2023. 

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