January 29, 2018 / 4:09 AM / 3 months ago

BUZZ-India's Maruti Suzuki surges on results, royalty cut on new models

** Shares of Maruti Suzuki India Ltd rise as much as 3.09 pct to 9,564.70 rupees ($150.51)

** Stock posts biggest intraday pct gain since Dec 19, 2017

** Co, majority-owned by Japan’s Suzuki Motor Corp, posted a 3 pct rise in quarterly profit on Thursday

** Country’s top-selling car maker also approved revision in method of calculating royalty payments for new models

** Lowering of royalty payments to Suzuki on new models will improve margins - CLSA

** Royalty reduction to drive margins and sustain valuation - Investec

** Up to Thursday’s close, stock had fallen 4.6 pct this year ($1 = 63.5500 Indian rupees)

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