Maruti Suzuki India lost 3.87% to Rs 4,001.35 at 11:00 IST on BSE as Japanese yen strengthened against the dollar.
Meanwhile, the S&P BSE Sensex was down 970.37 points or 3.59% at 26,031.85.
On BSE, so far 94,000 shares were traded in the counter as against average daily volume of 78,442 shares in the past one quarter. The stock hit a high of Rs 4,071 and a low of Rs 3,868.10 so far during the day. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had underperformed the market over the past one month till 23 June 2016, advancing 6.42% compared with Sensex's 7.02% rise. The scrip had, however, outperformed the market in past one quarter, gaining 11.43% as against Sensex's 6.57% rise.
The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.
A strong yen adversely impacts Maruti Suzuki India's (Maruti) operating profit margin. Maruti pays royalty to its Japanese parent Suzuki Motor Corporation in yen terms for some of its earlier models. Maruti has reportedly started paying royalty to its Japanese parent in rupee terms on all new models from 1 April 2016. Maruti also has an exposure to the yen to the extent it imports raw materials from Japan.
Maruti Suzuki India's net profit declined 11.7% to Rs 1133.60 crore on 12.5% growth in net sales to Rs 14929.50 crore in Q4 March 2016 over Q4 March 2015.
Maruti is India's biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 March 2016).
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