Maruti scrip up 7.53 percent on plan to seek shareholder’s approval

Mumbai, March 18 :

Automobile major Maruti Suzuki’s scrip was trading up 130.80 points or 7.53 percent around 3.18 p.m. Tuesday 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 was trading at Rs.1,867.00 — up 130.80 points or 7.53 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.

(IANS)