Page 14 - Maruti Suzuki

Maruti Suzuki's mcap breaches Rs 4 trillion mark in intra-day trade

Maruti Suzuki India's market valuation went past the Rs 4 lakh crore mark in intra-day trade on Wednesday, helped by a rally in the stock which reached a new peak. Shares of the company climbed 2.40 per cent to settle at Rs 12,550 apiece on the BSE. During the day, it jumped 3.82 per cent to reach a record high of Rs 12,724.95. On the NSE, the automaker's stock advanced 2.52 per cent to Rs 12,560 per share. During the day, the company's market valuation jumped to Rs 4,00,075.70 crore mark. At the close of trade, the company's market capitalisation (mcap) remained at Rs 3,94,575.23 crore. In the broader equity market, the 30-share BSE Sensex jumped 526.01 points or 0.73 per cent to settle at 72,996.31. The NSE Nifty went up by 118.95 points or 0.54 per cent to 22,123.65. The stock was the second biggest gainer among the Sensex and Nifty firms after Reliance Industries. The company is at the 14th rank in terms of most valued companies by market capitalisation. Reliance Industries

Maruti Suzuki announces senior management rejig; promotes several employees

Maruti Suzuki India on Wednesday said its board has elevated Partho Banerjee as the new head of marketing and sales function with effect from April 1, 2024. He is currently serving as Head - Service. Banerjee replaces Shashank Srivastava who is "transferred from the position of Head Marketing & Sales to Member Executive Committee", the auto major said in a regulatory filing. Similarly, Tarun Aggarwal has been named as Head of Engineering with effect from April 1, 2024. He replaces CV Raman who also stands transferred to Member Executive Committee, it added. Aggarwal is presently working as Executive Officer and Head of Powertrain vertical, Maruti Suzuki said. The automaker also elevated Sandeep Raina as Head of Product Planning and Ram Suresh Akella as Head of service. MSI also transferred Rajesh Uppal, currently Head of HR & IT, to the Member Executive Committee. The automaker named Manoj Gautam as Head of Information Technology (IT) and Salil B Lal as Head of Human Resources

Maruti India's gearshift to growth: Turbocharging the product portfolio

Brokerages foresee smooth ride for passenger vehicle maker, with SUV dominance, EV entry on the horizon, and Suzuki Motor Gujarat consolidation

Maruti Suzuki acquires over 6% stake in technology startup Amlgo Labs

Maruti Suzuki India on Saturday said it has acquired over 6 per cent stake in technology startup Amlgo Labs. The startup operates in data analytics, cloud engineering, machine learning (ML) and artificial intelligence (AI) to assist companies in data-driven decision-making. The investment is being made through Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups exhibiting high levels of technological innovation, the auto major said in a statement. This is the second such investment by the company. Earlier, it had invested in Sociograph Solutions in June 2022. "Our investment in Amlgo Labs will help us to further strengthen the quality of new models, using advanced analytics and machine learning," Maruti Suzuki India Managing Director and CEO Hisashi Takeuchi said.

Maruti to recall 16,000 units of Baleno, WagonR over faulty fuel pump motor

The company said that it suspected that there is a possible defect in a part of Fuel Pump Motor, which in a rare case may lead to engine stalling or engine starting issues

Maruti Suzuki hits new high in subdued market; stock zooms 20% in 2 months

Global brokerage CLSA, on Wednesday, said Maruti Suzuki could be among the key beneficiaries of increasing adoption of CNG vehicles in India

Enough safeguards in place for domestic industry in EV space: R C Bhargava

R C Bhargava tells that we support any scheme of the government that encourages new investment and new technology to come into the country, and that is what we hope will happen

PM Modi unveils India's 1st auto in-plant railway siding project of MSIL

Prime Minister Narendra Modi on Tuesday inaugurated India's first automobile in-plant railway siding project of Maruti Suzuki (MSIL) at its plant at Hansalpur in Gujarat's Mehsana district virtually from a function here. PM Modi, who visited Gujarat on Tuesday, inaugurated and laid the foundation stone of Rs 85,000 crore railway projects, including the launch of 10 new Vande Bharat trains, from Sabarmati area of Ahmedabad in Gujarat after visiting the Dedicated Freight Corridor's (DFC) Operation Control Centre here. The MSIL's in-plant railway siding project was also inaugurated during the event. The project has been developed under the Centre's PM Gati Shakti mission in partnership with the Gujarat government, Indian Railways and MSIL at a cost of Rs 976 crore, MSIL's Executive Officer, Corporate Affairs, Rahul Bharti said. "It is for the first time in India that an in-plant railway siding for any automobile company has happened. This is the excellence of the Gati Shakti ...

Auto retail sales jump 13%, PV sales scale record high in February

PV sales moved up by 12 per cent to 330,107 units as compared to 293,803 units in February last year

Maruti Suzuki's total sales rise 15% to 197,471 units in February

Maruti Suzuki India on Friday said it has reported a 15 per cent year-on-year increase in total wholesales at 1,97,471 units in February. The company had dispatched a total of 1,72,321 units in the same month last year, Maruti Suzuki India Ltd (MSIL) said in a statement. The total domestic passenger vehicle sales grew 9 per cent at 1,60,271 units as against 147,467 units in the month a year ago, it added. Sales of mini segment cars, comprising Alto and S-Presso, declined to 14,782 units as against 21,875 units in February 2023. Sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, also declined by 10 per cent to 71,627 units as compared to 79,898 units in the year-ago month. Utility vehicles, including Brezza, Ertiga, Grand Vitara, and XL6, recorded sales of 61,234 units last month, growing 82 per cent over 33,550 units in the month a year ago, the company said. MSIL said its exports last month stood at 28,927 units as compared to 17,207 units

Maruti Suzuki, Union Bank of India partner for dealer financing solutions

Maruti Suzuki India on Tuesday said it has inked an initial pact with Union Bank of India for dealer financing solutions. The tie-up enhances the comprehensive inventory funding options for over 4,000 Maruti Suzuki sales outlets across the country, the auto major said in a statement. MSI (Maruti Suzuki India) Senior Executive Officer (Marketing & Sales) Shashank Srivastava said the automaker takes great care in nurturing its dealer network. "We proactively align our efforts in meeting the evolving demands of customers and the market, " he added. The company's partnership with Union Bank of India since 2008, has steadily evolved and reached a significant milestone of facilitating over 3,00,000 car finance cases till date, Srivastava said. "As a next milestone of our association, we are entering into an inventory funding Memorandum of Understanding (MoU) which will focus on innovative financing solutions for dealer partners," he added. Union Bank of India Managing Director & CEO

No country other than India has better prospects for future: Maruti Suzuki

There is no other country in the world better placed than India in terms of future growth, Maruti Suzuki India Chairman RC Bhargava said on Monday. Speaking at an event here, the veteran industry leader noted that the country needs to get rid of the old baggage of various defunct laws, regulations and practices to move ahead. "I can't see any country in the world today which has better prospects for the future than India has," Bhargava said here when asked about the future of the country. He noted that the western countries have reached a certain level where growth is now a dicey matter. "Whether they grow or they're getting into recession and things. People have lost that ethos of working. People want a much more luxurious kind of life. They want good things to come without working," Bhargava said. On the other hand, in India people are aspiring to greatly improve not only their own future, but the future of their families and children, he stated. "And that hunger is going to dr

Maruti Suzuki bets on strong hybrids to drive growth in green vehicles

The company anticipates that 25 per cent of its sales will come from strong hybrids in the foreseeable future

It is not about EV vs hybrid but reducing emission: Maruti's RC Bhargava

Maruti Suzuki chairman said electrification may not lead to reduced carbon emission

Auto shares rally; Maruti Suzuki, TVS, Hero Moto, Bajaj, M&M hit new highs

In the past one month, the S&P BSE Auto index has rallied 10 per cent against a 1 per cent decline in the S&P BSE Sensex

Hyundai seeks expansion and higher valuation with its $3 bn IPO in India

Hyundai, India's second-biggest carmaker behind Maruti Suzuki with a 15 per cent market share, has appointed bankers for the initial public offering which could be the country's biggest ever

Sky's the limit: Maruti Suzuki ventures into electric air copters

Maruti Suzuki unveils plans for SkyDrive, electric air copters that bridge the gap between drones and helicopters and may offer ride-sharing services with easy rooftop take off

Expect some impact on costs due to ongoing Red Sea crisis: Maruti Suzuki

Maruti Suzuki may see some increase in costs due to the rerouting of vessels amid the ongoing Red Sea crisis, according to a senior company official. The auto major, which exported around 2.7 lakh cars last calendar year, however, noted that it does not expect the issue to have a very big impact on the company's overseas shipments. "We are seeing some logistical challenges because of the Red Sea issue. And there may be some increase in costs because of risk or because of rerouting of vessels but it should not be significant," MSI Executive Officer (Corporate Affairs) Rahul Bharti said in an analyst call. The lead time of dispatches might change, and there may be some uncertainty in vessels coming and picking up their consignments, among others, he noted. That is a small issue, which is quite common in the export business, Bharti said. Red Sea strait is crucial for 30 per cent of global container traffic and 12 per cent of global trade. About 80 per cent of India's merchandise trad

Maruti aims to open 100 Nexa service workshops in non-urban areas in FY25

MSIL sells its more expensive cars such as Grand Vitara, Jimny, and Fronx through Nexa retail channel, while the others are sold through Arena retail channel

Maruti launches compact format Nexa service workshops for non-urban areas

Maruti Suzuki India on Tuesday launched compact-format Nexa service workshops with plans to have 100 such outlets across the country by the end of next fiscal. Through this strategic move the auto major aims to bring the Nexa service experience to customers in non-urban centres, the company said in a statement. The first six centres inaugurated are strategically located in Ateli (Haryana), Charkhi Dadri (Haryana), Bankura (West Bengal), Dahod (Gujarat), Nirmal (Telangana), and Ooty (Tamil Nadu), it added. "With the growing similarities in consumer preferences in urban and non-urban centres, there is a notable increase in interest for our Nexa offerings from both regions," Maruti Suzuki India (MSI) Managing Director & CEO Hisashi Takeuchi stated. Almost 30 per cent of the Nexa sales come from non-urban centres, he added. "To cater to these customers, we are introducing these compact-format Nexa service workshops. Our goal is to set up 100 such workshops by the end of FY 2024-25," .