NEW DELHI: Shares of India's top-selling car maker Maruti Suzuki fell as much as 4.4 per cent, marking their biggest daily percentage loss since January 25.Maruti is estimated to have cut production by 26.8 per cent to about 126,000 units, a TheIndianSubcontinent report suggested.Slowing demand and uncertainties ahead of the elections pushed the production level this month to its lowest since March 2015, the report added.
Shares of the company traded 3.76 per cent down at Rs 6,825.25 around 10:40 am on BSE.
Most auto and auto ancillary stocks were trading in the red, keeping the sectoral index down.
The BSE Auto index was trading 1.35 per cent down at 19,429.02 around 10:40 am, with shares of Motherson Sumi Systems (down 1.79 per cent), Ashok Leyland (down 1.70 per cent), Apollo Tyres (down 1.58 per cent), Hero MotoCorp (down 1.35 per cent) and Eicher Motors (down 1.07 per cent) as the top losers.
Shares of Bharat Forge (down 0.94 per cent), Mahindra Mahindra (down 0.93 per cent), Exide Industries (down 0.87 per cent), Balkrishna Industries (down 0.61 per cent), Bajaj Auto (down 0.37 per cent), TVS Motor Company (down 0.28 per cent), Bosch (down 0.13 per cent), MRF (down 0.08 per cent), too, were n the red in the index.
Tata Motors (up 1.66 per cent) and Cummins India (up 0.74 per cent) were the only two stocks in the 16-share auto pack that were in the green at that time.