Maruti Suzuki share dips in early trading after automaker recalls 87,599 vehicles

Maruti Suzuki's recall of 87,599 vehicles on Monday has not gone down well for the company, as its share price dipped 0.15 per cent to Rs 9,680 in early trading on Tuesday. The company announced on Monday that it would recall 87,599 vehicles (S-Presso and Eeco) manufactured between July 5, 2021, and February 15, 2023.

In its filing with the BSE, the company said that there is a possible defect in a part of the steering tie rod used in the vehicles that have been recalled.

The company further informed that the defect is rare but it may break and affect vehicle steerability and handling. 

Affected vehicle owners will receive communication from Maruti Suzuki authorised dealer workshops for inspection and replacement of the faulty part, free of cost, the company said in its filing. 

The said recall is effective from July 24, 2023, 06:30 pm, onwards. 

Earlier, Maruti Suzuki's share opened at Rs 9,649 on Monday. 

The 52-week high for the share was Rs 10,036.70, while the lowest 52-week lot for it was Rs 10,036.70.