Japanese auto major Suzuki Motor Corp. (SMC) has increased its stake in its Indian subsidiary, Maruti Suzuki to 56.37 per cent via purchasing shares from the market.

In a notification to the Bombay Stock Exchange (BSE), Maruti Suzuki said that Suzuki Motor Corp. had purchased 284,322 equity shares valuing at Rs 204.31 crore. Earlier this year in March, Suzuki Motor had purchased 211,000 equity shares of Maruti Suzuki valued at Rs 134.26 crore for raising its stake in the company from 56.21 per cent. Before the recent transaction, Suzuki Motor held a stake of 56.28 per cent in Maruti Suzuki.

The scrip was traded at 0.51 per cent higher at Rs 7,268 at around 9.25 am (IST), while the Sensex was up at 030 per cent at about 38,957.

Toshihiro Suzuki, President of Suzuki Motor Corp. recently said, “Earlier, it was established that the Indian market might grow to a scale of 10 million units by 2030. We believe these are achievable numbers. The only thing is that it may need a few more years. Compared to now, it is a huge increase”.

Maruti Suzuki has reported a growth of 11 per cent in its total production of August month to 1,23,769 units against a total of 1,11,370 units in the same month previous year. In August month, the company’s passenger vehicles production increased by 10 per cent at 1,21,381 units as compared to 1,10,214 units in the same month a year ago. In contrast, the production of mini cars comprising both Alto and S-Presso models stood at 22,208 units against 13,814 units in August last year.