Maruti Suzuki gains on board nod for lower royalty payment for new models

The stock was up 4% to Rs 9,647 after the board approved a revision in the method of calculating royalty which would result in lower royalty payments for new model agreements starting the Ignis.

Maurti Suzuki India was up 4% to Rs 9,647 on BSE  in intra-day trade on Monday after the company said that the board approved a revision in the method of calculating royalty which would result in lower royalty payments for new model agreements starting the Ignis.

This would be implemented after approval by the board of Suzuki Motor Corporation, the company said in a press release on Thursday, after market hours.

The country’s largest carmaker, posted a 3% growth in profit at Rs 17.99 billion for the October-December 2017 (Q3FY18) quarter. The automobile major attributed the low profit