In early trading on October 13, Maruti Suzuki’s stock witnessed a notable surge. The surge was propelled by India’s leading car manufacturer’s announcement of issuing preferential shares to its parent company, Suzuki Motor Corporation (SMC), as part of its strategy to secure a complete ownership stake in Suzuki Motor Gujarat.
The company’s board of directors, scheduled to meet on October 17, will deliberate on the proposal to issue shares to SMC in lieu of cash payment. This transaction will enable Maruti Suzuki to acquire SMC’s entire equity holding in Suzuki Motor Gujarat.
As of 10:58 a.m., Maruti Suzuki’s stock was trading at Rs 10,675 on the BSE, reflecting a 0.89 percent increase.
