Suzuki Motor Corporation has raised its stake in Maruti Suzuki to 56.37%.
According to a notification sent to the Bombay Stock Exchange (BSE), the Japanese carmaker has purchased 2,84,322 equity shares valued at Rs. 204.31 crore, increasing its stake from 56.28% to 56.37%.
This comes at a time when the Indian auto sector is going through one of the worst slowdowns. The outbreak of the Covid-19 pandemic has further slowed down the recovery.
Earlier this year, Suzuki had raised its stake in the Indian subsidiary to 56.21% by purchasing 2,11,000 equity shares valued at Rs. 134.26 crore.
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