Shares of India's top-selling car maker Maruti Suzuki India Ltd fall as much as 4.3 per cent; mark 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, media reports, citing sources familiar with the matter. Slowing demand and uncertainties ahead of the elections pushed the production level this month to its lowest since March 2015, media reports.
Maruti did not immediately respond to a request for comment. More than 415,000 shares traded, as of 1003 GMT, 0.6 times their 30-day moving average of 714,618 shares.