Maruti Suzuki India Limited (MSIL) on Friday said benefits of developing its Gujarat project through a wholly-owned subsidiary of Japanese parent Suzuki Motor Corporation (SMC) were being conveyed to investors by an MSIL team, led by Chairman R C Bhargava and Managing Director K Ayukawa.

Kotak Mahindra Capital and Axis Capital will facilitate the process to woo minority shareholders.

NEW DELHI: Maruti Suzuki India Ltd (MSIL) has appointed two local investment bankers — Kotak Mahindra Capital and Axis Capital as the company seeks to persuade minority investors to back a controversial plan that calls for the carmaker's proposed Gujarat factory to be set up by parent Suzuki Motor Corp.

Maruti Suzuki's manufacturing will be contracted to the plant in a practice that some experts say is unusual for the industry. The move has been opposed by some shareholders who believe it will undermine the Indian unit and divert income to the parent.

Japanese carmaker Honda emerged as the third-largest carmaker in July with a 40% jump in volumes to 15,709 units, overtaking home-grown player Mahindra, which saw a drop of 5% in monthly sales to 14,708 units.

With a market share that has more than doubled from about 3% in FY13 to almost 7% (April-June FY15), Honda is behind market leader Maruti Suzuki and Hyundai that command about 44% and 17% market shares, respectively.

With Maruti, Bharti, HUL and Idea all beating the Street, the mood in corporate India, if not actually, upbeat, is certainly better than it was a few months ago. There is, however, some despondency that goes with the realisation that the core of the economy remains in deep trouble; from Larsen &Toubro to NTPC and Ultratech to Sesa Sterlite, large chunks of industry continue to find the going tough.

NEW DELHI: Higher sales and cost reduction measures boosted the first quarter earnings of the country's top carmaker Maruti Suzuki on a day when Osamu Suzuki, chairman of the company's parent Suzuki, called on Prime Minister Narendra Modi.

Maruti's profits, also aided by forex gains, rose 21% in the April-June'14-15 quarter at Rs 762 crore against Rs 632 crore in the same period of last fiscal. Net sales during the quarter stood at Rs 11,074 crore, up 11% against Rs 9,995 crore in the April-June quarter of last fiscal.

Maruti Suzuki India, the country’s largest car maker, reported a 20.7 per cent increase in net profit at Rs 762 crore for the financial year’s first quarter ended June.

This was on the back of strong sales, cost reduction initiatives and favourable foreign exchange (forex) movement.

CHENNAI: Car market leader Maruti Suzuki India Limited (MSIL) on Wednesday announced that over two million people have now been trained in safe driving at its various driving training facilities in the country.

MSIL, which started its safe driving initiative with Institute of Driving Training and Research (IDTR) in partnership with Delhi Government in 2000, said the two million milestone was achieved in July.

The month of July is yet to reveal some more surprises. After a spree of launches so far from Nissan Sunny facelift to several limited and special editions from Maruti Suzuki, Hyundai, Renault and Chevrolet, the automakers are leaving no stone unturned to get most out of the season. Where Maruti has brought in limited edition of Ritz and Ertiga, Chevrolet introduced special Manchester United Limited edition of Beat during the football fever. Renault introduced second anniversary edition of Duster, Hyundai launched Grand i10 LPG edition while Volkswagen too joined the movement and launched facelift Polo hatch. Are we missing something? Yes, there will be much touted Honda Mobilio MPV coming in a few days besides a couple of hot wheels from German luxury carmakers. Here is the chronological brief synopsis of each.

Institutional investors have reduced their holdings in Maruti Suzuki, which had recently run into opposition from investors over setting up of a plant in Gujarat.

As per the latest shareholding data for June quarter, foreign investors, such as Credit Suisse and Norway's Government Pension Fund Global, are no longer holding more than 1% stake in Maruti.

Maruti Suzuki India on Tuesday launched the limited edition variants of Ertiga to mark 1.50 lakh unit sales of the multi-purpose vehicle. The Eritga Limited Edition, in a new pearl blaze blue colour in addition to superior white and silky silver metallic with several factory-fitted high-end features, will shortly be available in petrol, CNG and diesel variants, the company said.

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