Friday 20 December 2013

Maruti Suzuki soars on talk of promoter stake hike plan

The promoters holding in the company stood at 56.21% while Institutions and Non-Institutions held 35.02% and 8.78% respectively.

Suzuki Motor Corporation is reportedly planning to hike its stake in Maruti Suzuki India as company generates 30% of global revenue. In this regard, the company is mulling various option like open offer, issue of preference share.

At present, Suzuki Motor owns 56.20% stake in Maruti Suzuki, while institutions and non-institutions held 35.02% and 8.78% stake in the company, respectively.

Maruti Suzuki reported over 3-fold jump in its net profit after tax at Rs 670.23 crore for the quarter ended September 30, 2013 as compared to Rs 227.45 crore for the same quarter in the previous year. Total income from operation of the company increased by 24.90% at Rs 10569.08 crore for quarter under review as compared to Rs 8461.75 crore for the quarter ended September 30, 2012.

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