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

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Latest Key Developments (Source: Significant Developments)

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 07:43am EDT 

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 02:02pm EDT 

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 03:49am EDT 

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 03:48am EDT 

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
Wednesday, 24 Apr 2013 08:31am EDT 

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
Friday, 15 Mar 2013 02:50am EDT 

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
Wednesday, 13 Feb 2013 07:44am EST 

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
Sunday, 27 Jan 2013 08:31am EST 

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
Tuesday, 15 Jan 2013 04:11am EST 

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

UPDATE 1-India's Maruti Suzuki says car sales growth cooling

MUMBAI, Oct 30 - India's biggest carmaker Maruti Suzuki India Ltd said growth in car sales would slow in the second half of the year, dampening expectations of a rapid recovery in the country's automotive market.

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