Maruti Suzuki Share Price Dips After Releasing Mid-Term Management Plans

Maruti Suzuki's share price declined 2.25% after the company released its new mid-term management plan. The plan, which outlines growth targets and significant investments in electric vehicles and other alternative fuel technologies, appeared to have a mixed reception from investors.

Shares of Maruti Suzuki fell as much as 2.41% to Rs 12,380 apiece. They pared losses to trade 2.37% lower at Rs 12,385.30 apiece, as of 10:10 a.m. This compares to a 0.28% advance in the NSE Nifty 50.

The stock has risen 8.20% in the last 12 months. The relative strength index was at 47.

Out of 47 analysts tracking the company, 39 maintain a 'buy' rating, five recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 11.9%.