BANGALORE: Shares in Maruti Suzuki Ltd rose as much as 3.8 per cent on Wednesday after parent Suzuki Motor said Volkswagen will take a 19.9 per
Maruti A-starMaruti RitzMaruti EstiloSuzuki KizashiSuzuki Swift hybridcent stake in it. ( Watch ) Suzuki has a 54.2 per cent stake in Maruti. Officials at Maruti could not immediately be reached for a comment on the deal. Volkswagen will buy the Suzuki stake for about 222.5 billion yen ($2.5 billion) as part of an alliance between the two automakers. At 12:50 pm, shares in Maruti were up 2.6 per cent at Rs 1,610 in a BSE that was down 0.7 per cent. The stock had risen as much as 3.8 per cent soon after the announcement. Suzuki, Japan's fourth-largest automaker, said it would hold a news conference at 0800 GMT to brief on the capital alliance. Maruti was founded by Suzuki and the Indian government back in 1982. In order to hold on to its 50% share of the Indian car market, Maruti Suzuki has planned to increase its production capacity by up to 75% over the next five years.
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