Marutri Suzuki shares fell over 3 per cent on Monday after reducing the number of workers it employs on temporary contracts.
Company decided to cut temporary workers following a plunge in vehicle sales. The vehicle industry is facing one of its worst slowdowns in nearly a decade, with vehicle sales falling rapidly.
On the National Stock Exchange (NSE), Maruti Suzuki shares opened lower at Rs. 5,600 apiece and dropped to as much as Rs. 5,508 apiece in morning deals, marking a decrease of 3.17 per cent. On the Bombay Stock Exchange (BSE), the Maruti Suzuki share price declined as much as 3.20 per cent to touch the Rs. 5,510 mark at the day's lowest point.