Maruti Suzuki India lost 1.89% to Rs 2393 at 11:46 IST on BSE, with the stock sliding amid volatility after the company said it has commissioned its 1 megawatts mono-crystallince photovoltaic solar power plant at its Manesar facility this month.
The announcement was made during market hours today, 19 June 2014.
Meanwhile, the S&P BSE Sensex was down 13.02 points or 0.05% at 25,233.23.
On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 51,634 shares in the past one quarter.
The stock was volatile. The stock lost as much as 1.96% at the day's low of Rs 2391.20 so far during the day. The stock rose as much as 0.45% at the day's high of Rs 2450.25 so far during the day. The stock hit a record high of Rs 2,505.30 on 26 May 2014. The stock hit a 52-week low of Rs 1,217 on 28 August 2013.
The stock had outperformed the market over the past one month till 18 June 2014, surging 13.21% compared with the Sensex's 4.66% rise. The scrip had also outperformed the market in past one quarter, jumping 30.51% as against Sensex's 15.64% rise.
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The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
Built with an investment of Rs 10.30 crore, the 1 megawatts (MW) photovoltaic solar power plant will help the company offset carbondioxide emissions to the tune of over 1,200 tonnes annually, Maruti Suzuki said.
On the initiative, Mr Rajiv Gandhi, Executive Director, (Plant), Maruti Suzuki said, "With the launch of 1MW photovoltaic solar power plant, Maruti Suzuki has taken the first step to harness renewable solar energy. The initiative is in line with the company's philosophy of adopting environment friendly technologies that may have high upfront costs, but help bring down carbondioxide emissions. Solar energy is abundant, versatile and efficient. Through this solar facility the company will be able to contribute towards environment. Going forward, the company is committed to expand its environment care initiatives".
Maruti Suzuki's solar power plant at Manesar consists of about 4,000 mono-crystalline panels. The power generated from the solar plant is synchronized with the natural gas based captive power plant and used to complement the power requirement in the facility.
Maruti Suzuki India's net profit fell 35.5% to Rs 800.05 crore on 9.5% decline in net sales to Rs 11818.13 crore in Q4 March 2014 over Q4 March 2013.
Japanese parent Suzuki Motor Corporation holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 March 2014).
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