Maruti Suzuki up on plan to seek minority shareholder nod for Gujarat plant
Reuters Posted online: Tuesday, Mar 18, 2014 at 0000 hrs
Shares of Maruti Suzuki India
surged 9.3 percent in pre-open trading on plans to seek minority shareholder approval to set up a plant in Gujarat as a unit of Suzuki Motor Corp, after the proposed move drew opposition from the company's leading institutional investors.
"Even though not required by law, the board decided, as a measure of good corporate governance, to seek minority shareholders' approval," the company said in a statement after a board meeting on Saturday.