Maruti Suzuki shares fall 1% from record high after senior management rejig

Maruti Suzuki share price: Shares of Maruti Suzuki fell a percent lower to ₹12,401 today (March 28) after the company's board of directors approved the shuffling of senior management roles. The rejig will be effective from the new financial year April 1, the company said.

Maruti Suzuki share price: Cars are seen parked under solar panels at the manufacturing plant of Maruti Suzuki in Manesar.(Reuters)

Maruti Suzuki senior management reshuffle: What you need to know

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As per the changes, Shashank Srivastava, who currently heads the marketing and sales division in the company, will be a member of the executive committee and Partho Banerjee, who is currently leading the service division, will take his place. Ram Suresh Akella will replace Banerjee as the service head, the company said in a filing.

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Maruti Suzuki share price today

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At 9:20 am, Maruti Suzuki stock was trading at ₹12,421, down 0.8 per cent from the previous close on NSE. The Maruti share price has gained 22 per cent in 2024.

Maruti Suzuki at record high on March 27

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This comes after the company shares scaled a record high of ₹12,722 on March 27 as it became India’s 19th listed company to cross ₹4 trillion market capitalisation mark.

Maruti Suzuki's Baleno recall

The company also announced earlier that it will recall 11,851 units of its Baleno and 4,190 units of its WagonR hatchbacks, citing a possible defect.

"This in a rare case may lead to an engine stalling or engine starting issue. Affected vehicle owners will be contacted by Maruti Suzuki authorised dealer workshops for replacement of the part, free of cost, in due course of time," it said.

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