Suzuki Motor Corporation Purchases Additional Maruti Suzuki Shares, Raises Stake By 0.9 %

In a notification to the Bombay Stock Exchange (BSE), Maruti Suzuki has informed that Suzuki Motor Corporation, Japan, now holds an increased 56.37 % stake in India's largest car maker.

By Shams Raza Naqvi

1 mins read

Published on September 11, 2020

Highlights

In March, 2020 too Suzuki had increased stake in Maruti Suzuki by 0.7 %
August 2020, Maruti Suzuki finally saw a y-o-y growth after 6 months
Maruti Suzuki made more cars in August 2020 than the previous month

The parent company of India's largest car maker Maruti Suzuki, Suzuki Motor Corporation, Japan, now holds an increased stake in India's largest car maker. In a notification to the Bombay Stock Exchange (BSE), Maruti Suzuki has informed that Suzuki Motor Corporation, Japan, has purchased an additional 284,322 equity shares of Maruti Suzuki valued at Rs 204.31 crore. This has taken up the former's stake in the company to 56.37 percent . Before this Suzuki's share in Maruti Suzuki stood at 56.28 percent, which means the latest transaction has increased the share by 0.9 percent. In March, 2020 too Suzuki had increased its stake in Maruti Suzuki by 0.7 percent. Before this in March too, Suzuki Motor Corporation had increased its stake in Maruti Suzuki from 56.21 percent to 56.28 percent, by purchasing 211,000 equity shares at a cost of Rs. 134.26 crore. In some good news coming out earlier this week, Maruti Suzuki had informed the BSE of higher production numbers in August 2020, when compared to both July 2020 as well as August 2019. This is indicative of the fact that post the lockdown the company is getting back to pre-covid numbers. In terms of retail too, Maruti Suzuki finally saw a year-on-year growth after 6 months, with sales increasing by over 17 percent. Also read: Maruti Suzuki Production Recovers; Up By 11% In August 2020 In August 2020, Maruti Suzuki finally saw a year-on-year growth after 6 months, with sales increasing by over 17 percent. At the recently held Annual Convention of the Society of Indian Automobile Manufacturers (SIAM), Kenichi Ayukawa, Managing Director and CEO of Maruti Suzuki, who also took over as the President, SIAM said, "The industry is looking forward to sound development which means, increase in production, sales, exports and more localization of parts including electronics." With the festive season round the corner, Maruti Suzuki would be hoping for even better numbers coming out in the next few months.