Maruti Suzuki India Ltd has denied media speculation that its Japanese parent may hike its stake in the company.
In response to a clarification sought by the BSE to a newspaper report that its parent might hike its stake to the maximum permissible limit of 75 per cent, Maruti Suzuki said that it was not in a position to comment on the newspaper story “as the matter has never been placed before the board of directors of the company’’.
The stock, which touched a new 52-week high of Rs 1,864 on January 9, was trading at Rs 1,777.60 on the BSE, a gain of Rs 3.
Promoters’ stake in the company as at the end of September 2013 was 56.21 per cent with FIIs holding 21.47 per cent. DIIs held 13.98 per cent stake in the equity and others were holding 8.34 per cent.
The stock has appreciated by about 50 per cent in the last five months after touching a low of Rs 1,217 on August 28, 2013.