The government on Friday formally invited offers to sell over 7.2 crore (72 million) shares in its joint venture car company Maruti Udyog Ltd, as part of its decision to divest 25 per cent equity through public offer.
The much-awaited public offering of the shares of auto major Maruti Udyog Ltd has cleared another major hurdle with the Securities and Exchange Board of India approving the draft prospectus for the initial public offer.
The much-awaited public offering of shares for Maruti Udyog will hit the market by early June this year, the company's managing director Jagdish Khattar told reporters in New Delhi on Thursday.
A day after slashing prices of its small cars, market leader Maruti Udyog Limited has cut the price of its premium sedan Baleno by Rs 8,000 with immediate effect.
Exports of Made in India vehicles went up by a whopping 56 per cent during the last fiscal as cars, commercial vehicles and two-wheelers continued to charm overseas buyers.
Maruti Udyog Ltd on Wednesday launched the popular sports-utility-vehicle Grand Vitara XL-7 and said its passenger vehicle sales would increase considerably this fiscal.
With the threat of a third Covid-19 wave looming large, companies are scrambling to protect employees and keep operations safe--from a no-jab-no-entry-at-workplace policy to ramping up vaccination, it's an all-out effort to prevent the scale of devastation seen in the first two waves. At least two top steel companies--Tata Steel and ArcelorMittal Nippon Steel India (AM/NS India)--are pushing for vaccination certificates for entry into work premises. AM/NS India, a joint venture between world's leading steelmaker, ArcelorMittal, and Japan's Nippon Steel, is set to make vaccination the certificate a requirement from July 1.
Leading carmaker Maruti Udyog on Tuesday kicked off a new 'loyalty bonus' programme for its existing customers in a fresh attempt to boost car sales.
Prices of Maruti passenger cars are likely to go up shortly, Jagdish Khattar, the managing director of Maruti Udyog Ltd, said in Chennai on Friday.
Maruti Udyog Ltd on Thursday launched the non-AC version of Alto priced at Rs 230,000 (ex-showroom, Delhi).
The government said on Thursday that it would make public offer of 36 lakh (3.6 million) shares in Maruti Udyog Limited in June as part of its divestment in the joint venture car company.
Car market leader Maruti Udyog Limited is opting for a new name. The board of directors, at its meeting in New Delhi on Thursday, approved a proposal to change the company's name to Maruti Suzuki India Limited.
The company is finding it extremely difficult to absorb increasing input costs, especially steel.
To prop up declining sales of Versa, Maruti Udyog Ltd on Monday launched a low-priced version of the vehicle, which is about 15 per cent cheaper than the two existing variants.
India's biggest carmaker Maruti Udyog Ltd on Monday reported a massive 61.8 per cent sales growth in February 2004 due to surging demand for compact cars.
Suzuki Motor Corporation on Monday submitted the business plan for Maruti Udyog Ltd, to enable Government to proceed with the proposed public offer in the car joint venture in the current fiscal.
The divestment ministry expects to mop up about Rs 700 crore (Rs 7 billion) from the ensuing public offering in Maruti Udyog Ltd, taking the total divestment realisation for the current financial year to about Rs 4,300 crore
Maruti Udyog Ltd on Monday said its sales surged 30.2 per cent in January due to higher demand for premium small cars.
Close on the heels of reducing prices of premium mid-size sedan Baleno, India's largest carmaker Maruti Udyog Ltd on Friday announced a price cut of Rs 38,000 on the diesel versions of its mid-size car Esteem.
India's biggest carmaker Maruti Udyog Ltd on Thursday launched a variant of premium mid-size sedan Baleno and announced a price cut on its existing versions.
Honda Siel's mid-size car City, Ford's Endeavour sports-utility-vehicle and Bajaj Auto's Wind motorcycle bagged the top honours at the 3rd CNBC Autocar awards in New Delhi.
Within a year of launching its maiden sports-utility-vehicle Grand Vitara XL-7, Maruti Udyog Ltd on Monday rolled out an upgraded version of the vehicle.
India's biggest carmaker Maruti Udyog Ltd will launch a new Zen compact car on November 27.
Maruti Udyog on Thursday said it has entered into a new five-year wage settlement with its employees' union, aimed at drastically cutting costs and simplifying the wage structure.
Maruti Udyog on Tuesday launched the upgraded versions of its compact car 'WagonR' and said it will decide on hiking vehicle prices by this year-end due to increasing cost pressures following the appreciation of the Yen and rising steel prices.
Car market leader Maruti Udyog Ltd on Wednesday reported a 9.5 per cent rise in sales in August this year at 46,509 units against 42,480 units in the same month last year, despite a slight slowdown in exports.
India's largest carmaker Maruti Udyog on Wednesday said its car sales grew by three per cent in September even as production continued to be hit by a prolonged strike at one its major component suppliers.
Car market leader Maruti Udyog on Monday reported a three per cent rise in sales in July this year at 44,753 units against 43,419 units in the same month last year, boosted by a revival in exports and healthy sales of hatchbacks.
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