Domestic sales fell 47% year-on-year (yoy) compared to Nomura Research’s forecast of a 30% drop Maruti Suzuki India Ltd’s sales in March were worse than what was anticipated by the street, even after accounting for the covid-19 national lockdown.
Domestic sales fell 47% year-on-year (yoy) compared to Nomura Research’s forecast of a 30% drop. With this, sales in FY20 have declined by 16%.
The point to note, however, is that just a week’s lockdown dragged total sales in the month to 83,792 vehicles. This was the level last seen during the labour related lockout in 2011.
Even so the stock did not react too badly. Maruti’s stock edged 1.5% lower compared to a 4% fall in the Nifty index. However, note that the stock has fallen 46% from 1
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