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Maruti Suzuki India parent hikes stake to 56.37%

Capital Market 

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.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, September 11 2020. 16:58 IST
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