|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||8,888.00 - 9,024.75|
|52-week range||6,536.55 - 9,769.00|
|Beta (5Y monthly)||0.75|
|PE ratio (TTM)||45.21|
|Earnings date||23 Jan 2023 - 27 Jan 2023|
|Forward dividend & yield||60.00 (0.67%)|
|Ex-dividend date||03 Aug 2022|
|1y target est||10,254.40|
Indian car makers have proposed cutting to 30% the tax rate on imported cars as part of a trade deal with Britain, sources told Reuters, an unprecedented move that could ease access to one of the world's most protected automobile markets. It is the first time Indian car makers have backed such cuts, caving to pressure from a government that wants them to give up their protectionist position and lower entry barriers, sources with direct knowledge of the matter said. Lobby group the Society of Indian Automobile Manufacturers (SIAM) has written to the government backing phased cuts to 30% over five years, following a grace period of five years with none, three sources said, speaking on condition of anonymity.
Maruti Suzuki is open to forming partnerships with auto part makers to secure its future supply chain and maintain its leadership position, the chairman of India's top-selling carmaker said in an interview. Partnering with suppliers in its early years contributed significantly to Maruti's success in India, where it has 43% share of the car market, and also helped establish a supply chain for combustion engine cars, R C Bhargava told Reuters. With growing demand for more technology in cars and a shift to 'greener' powertrains like electric and hybrid, automotive supply chains globally are changing and need large investments to keep pace.
Maruti Suzuki India Ltd, the country's top carmaker, said on Wednesday rising raw material costs had eaten into its margins despite more sales at higher prices, hurting quarterly profit which came in below analyst estimates. Maruti recorded a profit of 10.13 billion rupees ($126.79 million) for the quarter that ended on June 30, compared with 4.41 billion rupees a year ago when production was hampered by COVID-19-related disruptions. "The increase in prices of commodities adversely impacted the operating profit ... the company was forced to increase prices of vehicles to partially offset this impact," Maruti said in a statement.