Japan's Suzuki Motor increased its stake in Maruti Suzuki India to 56.37% by purchasing shares from the market.Suzuki Motor Corporation purchased 2,84,322 equity shares valued at 204.31 crore. Prior to the transaction, Suzuki held 56.28% in the Indian subsidiary.
Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles).
On a consolidated basis, the company posted a net loss of Rs 266.90 crore in Q1 FY21 as against net profit of Rs 1376.3 crore in Q1 FY20. Net sales slumped 80.4% to Rs 3679 crore in Q1 June 2020 over Q1 June 2019.
The scrip shed 0.56% to end at Rs 7190.15 on the BSE on Friday. It traded in the range of 7168.35 and 7349.85 so far during the day.
In the past three months, the stock has gained 32.48% while the benchmark S&P BSE Sensex rose 15.85% during the same period.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.