Maruti up on plan to seek approval for Gujarat plant

Tags: Companies
Shares of Maruti Suzuki India surged on Tuesday 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.

Maruti stock ended up 7.5 percent at 1868 rupees.

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