Key Developments: Maruti Suzuki India Ltd (MRTI.NS)

MRTI.NS on National Stock Exchange of India

17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Maruti Suzuki India to recall 103,311 vehicles
Friday, 11 Apr 2014 

Maruti Suzuki India Ltd:Says it will proactively replace fuel filler neck of 103,311 vehicles (42,481 units of DZire, 47,237 units of Swift and 13,593 units of Ertiga) manufactured between Nov. 12, 2013 and Feb. 04, 2014.  Full Article

Maruti Suzuki India Ltd recalls 1492 vehicles
Wednesday, 27 Nov 2013 

Maruti Suzuki India Ltd:Says it will inspect the steering column for 1492 vehicles (Ertiga:306 nos, Swift: 592 nos, Dzire: 581 nos, A-Star: 13 nos), manufactured between Oct.19 and Oct.26.Says if the steering column is found defective, the company will replace the steering column free of cost.  Full Article

Maruti Suzuki India Ltd Stops Producing Cars For Nissan - Business Standard
Friday, 18 Oct 2013 

Business Standard reported that Maruti Suzuki India Ltd has stopped supplying its Europe bound A-star model to Nissan owing to lack of sufficient orders from the latter. The Company, which is 56% controlled by Suzuki Motor Corporation, ended the seven year manufacturing and supply contract with Nissan a few weeks back.  Full Article

Maruti Suzuki India Ltd Cuts Output 25%-Indian Express
Tuesday, 9 Jul 2013 

Indian Express reported that Maruti Suzuki India Ltd to cut daily output by 25% at its Gurgaon and Manesar plants in Haryana. The Company has also cut the production of diesel engines by a third. The latest development comes after the Company shut production of the Swift and Dzire models at Gurgaon last month.  Full Article

Maruti Suzuki India Ltd Cuts Diesel Engine Output; 200 Contract Workers On Leave-Business Standard
Monday, 8 Jul 2013 

Business Standard reported that Maruti Suzuki India Ltd is understood to have asked 200 contract workers to go on indefinite leave following cut in diesel engine production at its Manesar plant due to low demand. The Company has shut the third shift at its diesel engine plant at Manesar, which has an annual capacity of 300,000 units, according to sources.  Full Article

Sacked Maruti Suzuki India Ltd's Workers Call For Solidarity Action On July 18-Business Line
Monday, 1 Jul 2013 

Business Line reported that the Sacked Maruti Suzuki India Ltd's plant workers, 147 of whom are in Gurgaon jail, have decided to mark July 18 as Chalo Manesar day and have called upon workers and organisations to observe solidarity actions across the country. On July 18, 2012, violence had broken out at Maruti’s Manesar plant, leading to the death of an official, Awanish Kumar Dev, in the plant premises. After the incident, all 2,300 Maruti workers, permanent as well as on contract, were sacked. The plant is now running with an entirely new staff. At a general body meeting held in Manesar on June 23, the Maruti Suzuki Workers Union had decided to campaign in July, starting with an indefinite sit-in demonstration and hunger strike in Manesar. The workers also alleged that labour laws were being openly flouted in the Manesar industrial belt, especially with regard to contract workers.  Full Article

RPG Life Sciences Ltd Sells Part Of Land At Navi Mumbai Land For INR76.91 Crores (INR769.1 Million) To Maruti Suzuki India Ltd
Thursday, 6 Jun 2013 

RPG Life Sciences Ltd announced that it has sold leasehold rights on its surplus land admeasuring 14,148.90 square meters, situated at TTC Industrial Area, Village Pawane, Navi Mumbai to Maruti Suzuki India Ltd for consideration of INR76.91 Crores (INR769.1 Million). The proceeds from the transaction will be utilized for reducing the debt of the Company and investing in the projects to drive future growth of the Company.  Full Article

LIC India Sells 2.53% Stake In Maruti Suzuki India Ltd-Business Standard
Tuesday, 21 May 2013 

Business Standard reported that according to Maruti Suzuki India Ltd. Life Insurance Corporation of India (LIC) has sold 2.53% stake in the Company over a period of almost six months. Post-sale, LIC's stake in Maruti Suzuki India (MSI) has come down to 8.247% currently from 10.777% earlier, Maruti Suzuki India Ltd said in a filing to the BSE. LIC sold 622,359,8 equity shares, representing 2.53%, of MSI between November 21, 2012 and May 17 this year.  Full Article

Maruti Suzuki India Ltd Recommends Final Dividend
Friday, 26 Apr 2013 

Maruti Suzuki India Ltd announced that the Board of Directors at its meeting held on April 26, 2013 has recommended a final dividend aggregating INR2.4167 million that is INR8 per share (Nominal value INR5 per share) (Previous Year INR2.1668 million that is INR7.5 per share) for the financial year 2012-2013.  Full Article

Maruti Suzuki India Ltd Approves Amalgamation Of Wholly Owned Subsidiaries
Friday, 26 Apr 2013 

Maruti Suzuki India Ltd announced that the Board of Directors at its meeting held on April 26, 2013 has approved the amalgamation of the following seven wholly owned subsidiaries of Maruti Suzuki India Ltd with and into the Company; Maruti Insurance Business Agency Limited; Maruti Insurance Agency Services Limited; Maruti Insurance Distribution Services Limited; Maruti Insurance Agency Logistics Limited; Maruti Insurance Agency Solutions Limited; Maruti Insurance Agency Network Limited; Maruti Insurance Broker Limited.  Full Article

TABLE-India's Maruti Suzuki March sales down 5.5 pct

MUMBAI, April 1 - Maruti Suzuki India Ltd's vehicle sales in March: March 2014 March 2013 Pct chg TOTAL SALES 113,350 119,937 -5.5 DOMESTIC SALES 102,269 107,890 -5.2 PASSENGER CARS 86,018 91,896 -6.4 EXPORTS 11,081 12,047 -8.0 NOTE: Maruti Suzuki, controlled by Japan's Suzuki Motor Corp , is India's largest carmaker by sales. (Reporting by Aradhana Aravindan; Editing by Anupama Dwivedi

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