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An announcement from Maruti Suzuki India Limited ( (IN:MARUTI) ) is now available.
Maruti Suzuki India Limited’s board has approved the acquisition of land at Khoraj Industrial Estate from the Gujarat Industrial Development Corporation to expand its fully utilized production capacity. The planned capacity addition is up to 1 million units annually, on top of the current capability of about 2.6 million units, with Rs 4,960 crore earmarked for land acquisition, development and preparatory activities, to be financed through a mix of internal accruals and external borrowings; detailed phasing, timelines and total investment for the new capacity will be finalized later, and the move is aimed at meeting growing market demand, including exports.
More about Maruti Suzuki India Limited
Maruti Suzuki India Limited is India’s largest passenger vehicle manufacturer, operating in the automotive industry with a focus on compact and mid-sized cars for domestic and export markets. The company runs multiple production facilities across locations such as Gurugram, Manesar, Kharkhoda and Hansalpur, catering to strong demand in both domestic and international markets.
Average Trading Volume: 11,884
Technical Sentiment Signal: Buy
Current Market Cap: 5188B INR
For a thorough assessment of MARUTI stock, go to TipRanks’ Stock Analysis page.