Key Developments: Maruti Suzuki India Ltd (MRTI.NS)
1,674.90INR
24 May 2013
Rs27.40 (+1.66%)
Rs1,647.50
Rs1,650.40
Rs1,777.00
Rs1,614.00
743,669
631,453
Rs1,777.00
Rs1,051.00
Latest Key Developments (Source: Significant Developments)
LIC India Sells 2.53% Stake In Maruti Suzuki India Ltd-Business Standard
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 62,23,598 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
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
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
Maruti Suzuki India Ltd's Board To Discuss Merging Of Seven Subsidiaries With Itself-The Economic Times
The Economic Times reported that Maruti Suzuki India Ltd will consider amalgamation of the Company's seven wholly owned subsidiaries with itself at the upcoming Board meeting. In a filing to the BSE, the Company said the Board, in meeting scheduled to be held on April 26, 2013, shall consider the proposal of amalgamation. The seven wholly owned subsidiaries, which are engaged in different businesses are Maruti Insurance Business Agency, Maruti Insurance Agency Services, Maruti Insurance Distribution Services, Maruti Insurance Agency Logistics, Maruti Insurance Agency Solutions, Maruti Insurance Agency Network and Maruti Insurance Broker. Full Article
Maruti Suzuki India Ltd Appoints Chief Executive Officer
Maruti Suzuki India Ltd announced that the Board of Directors at its meeting held on March 15, 2013, has appointed Mr. Kenichi Ayukawa as the Managing Director and Chief Executive Officer in place of Mr. Shinzo Nakanishi with effect from April 01, 2013, on the latter having attained the age of retirement. Full Article
Maruti Suzuki India Ltd To Launch Four SUVs In Two Years-The Economic Times
The Economic Times reported that Maruti Suzuki India Ltd is planning to launch four Sports Utility Vehicles (SUVs) over the next two years. The Company is expected to launch a crossover version of the SX4 sometime next year. Along with that Maruti is also aiming for an XA Alpha launch by 2015. The concept car XA Alpha was unveiled at the Auto Expo 2012. The other two models that is believed to be working on are a sub-4 metre Vitara and an SUV version of the Swift Dzire. Full Article
Maruti Suzuki India Ltd Buys Land For Four Plant-Business Standard
Business Standard reported that Maruti Suzuki India Ltd has purchased land in Gujarat for its fourth plant, the Nikkei business daily said on January 27,2013. The Company purchased the land for a new factory with capacity of about 750,000 units a year. The fourth plant is slated to begin production in 2017 at the earliest and help expand exports to Europe and the Middle East. Maruti Suzuki is set to begin work by March on its third plant in Mehsana district, also in Gujarat, with production to begin in 2015. Financial terms of the transaction were not disclosed. Full Article
Hughes Communications Ties Up With Maruti Suzuki India Ltd For Digital Training-The Economic Times
The Economic Times reported that satellite service operator Hughes Communications India said it has tied up with India's car maker Maruti Suzuki India Ltd to provide live training across 30 locations, including plants, offices and dealers. Hughes will provide the studio integration at the Maruti Training Academy, classroom integration at the regional training offices, and set up the interactive delivery platform through a high-powered Ku-band satellite network, the subsidiary of Hughes Network Systems said in a statement. The digital training academy that incorporates satellite broadband technology will impart training sessions from a centralised studio at the car maker's Gurgaon plant to distribution chain, factories, offices and key dealer outlets. The training programmes will include among other things technical, commercial, HR and product module sessions. This academy will meet the needs for appropriate training for the existing employees and will specifically orient new employees to the contemporary manufacturing culture. Full Article
Sacked Maruti Suzuki India Ltd's Workers Yet To Take Legal Recourse-Business Standard
Business Standard reported that the sacked workers at Maruti Suzuki India Ltd’s Manesar plant in Haryana may have launched an agitation seeking their reinstatement, but none of them has legally disputed the management’s decision to dismiss them. None of the 546 dismissed workers till date has served any demand notice to the concerned labour official in Haryana, sources said. Maruti Suzuki sacked these workers after a violent incident at the Manesar plant in July in which one management executive was killed and many others were injured. The sacked organised a two-day agitation. Full Article
Maruti Suzuki India Ltd Works To Stall Labor Trouble At Manesar-Business Standard
Business Standard reported that Maruti Suzuki India Ltd is gearing up to increase production at Manesar unit in Haryana, 546 dismissed workers at the facility are set to start a two-day agitation beginning tomorrow, seeking reinstatement. The sacked workers have constituted a seven-member provisional working committee (PWC) under the aegis of the non-functional Maruti Suzuki Workers’ Union (MSWU). Maruti Suzuki currently has around 4,000 workers at Manesar. The Company plans to increase the strength of the workforce at the unit by another 500 employees by next month. It is in the process of regularising the 1,870 contract workers it had at the unit prior to the unrest on July 18. The move is in line with the Company’s decision to hire only permanent or regular employees for core production activities post instances of labor unrest at the Manesar unit. Full Article
MARKET EYE-Indian shares near 3-1/2 month high; ITC, Maruti lead
* India's main share index gains 0.63 percent to trade above the psychologically important level of 20,000, while the broader NSE index is up 0.6 percent. * Both indexes hit their highest intraday level since Jan. 29. * Little impact seen from data showing the country's industrial output accelerated to 2.5 percent in March from a year earlier, stronger than consensus forecasts for 2 percent growth. * Investors say consumer price index on Monday and wholesale inflation data on Tuesday, will be t
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