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Maruti Suzuki rally on plan to seek shareholder's approval

Posted on Mar 18 2014 | IANS

Mumbai, March 18 : Automobile major Maruti Suzuki's scrip closed Tuesday's trade up 131.75 points or 7.58 percent after the company said it will seek minority shareholder approval to set up a plant in Gujarat as a unit of Suzuki Motor Corporation.

The company's scrip at the Bombay Stock Exchange closed at Rs.1,868.85 -- up 131.75 points or 7.58 percent from its previous close of Rs.1,737.10 on Friday.

Maruti Suzuki's board decided to seek the minority shareholder approval after the proposal drew opposition from the company's leading institutional investors.

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