Maruti Suzuki shares plunge despite new car launch

Maruti Suzuki, one of the leading automobile manufacturers in India launched BS-VI compliant version of its premium compact car, the company announced at the Auto Expo 2020 on February 18, 2020. The new model boasts of many advanced features, however, despite this; the stock of Maruti Suzuki India Ltd was trading in red during Wednesday’s morning session.

The name of the new model is Ignis, which is available in various colours and is priced between Rs 4.89 and Rs 7.19 lakh (ex-showroom Delhi). The company added that the new car is powered with Maruti Suzuki’s K12-1.2 litre engine that produces 83 hp power and 113 Nm torque. Along with it, the new car comes with five-speed manual gearbox and an optional five-speed Auto Gear Shift (AGS) transmission options. Ignis has a new look in terms of design, in both front and rear. Maruti Suzuki has experimented with two new colours with this model-Lucent Orange and Turquoise Blue. Moreover, this model will have a new infotainment system, that is, a SmartPlay Studio, with a big display.

At 10.06 am on Wednesday, the stock of Maruti Suzuki is trading at Rs 6,759.70, down by 0.18 per cent against its previous close of Rs 6,772.00. Its 52-week high is Rs 7,755.00 and its 52-week low is Rs 5,447.00 on BSE.