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Suzuki Motor Corporation Purchases Additional Maruti Suzuki Shares, Raises Stake By 0.9 %

Maruti Suzuki

The parent company of India’s largest carmaker Maruti Suzuki, Suzuki Motor Corporation, Japan now has an increased stake in India’s largest carmaker. In a notification to the Bombay Stock Exchange (BSE), Maruti Suzuki has informed that Suzuki Motor Corporation, Japan, Japan, has purchased an additional 284,322 shares of Maruti Suzuki valued at Rs.204.31 crore. This has taken up the former’s stake in the company to 56.37 percent. Before this, Suzuki’s stake in Maruti Suzuki was 56.28 percent, which means that the latest transaction has increased the share by 0.9 percent.

Also prior to that in March, Suzuki Motor Corporation increased its stake in Maruti Suzuki from 56.21 percent to 56.28 percent, by purchasing 211,000 equity shares at a cost of ₹ 134.26 crores. In some good news coming out earlier this week, Maruti Suzuki reported higher production figures to the BSE in August 2020, compared to July 2020 and August 2019. This is indicative of the fact that post the lockdown the company is getting back to pre-COVID numbers.  Also in terms of retail, Maruti Suzuki finally saw year-over-year growth after 6 months, with sales increasing over 17 percent.

Maruti Suzuki
Maruti Suzuki

In August 2020, Maruti Suzuki finally saw year-over-year growth after 6 months, with sales increasing by over 17 percent.

At the annual conference recently held by the Indian Automobile Manufacturers Association (SIAM), Kenichi Ayukawa, Managing Director, and CEO of Maruti Suzuki, who also took over as President, SIAM: “The industry expects a solid development which means increased production, sales, exports and more localization of parts Including electronics. “As the Christmas season approaches, Maruti Suzuki expects better numbers in the coming months.

Source: carandbike.com

Also Read: Discounts Of Up to ₹ 3 Lakh On Select Mahindra SUVs In Sep 2020

 

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