Yes, there is no one like Maruti Suzuki. For the first time in 40 years, ever since Maruti was launched in India, it is going to do something that can make investors rich. Maruti Suzuki India on Tuesday announced a dividend of Rs 90 per share, which is the highest in the history of the last 40 years. This means that if an investor has 10 thousand shares of Maruti, then he will get a profit of Rs 90 thousand as per the dividend of Rs 90 per share. The company also announced that its board has approved the appointment of Arnab Roy as Chief Financial Officer (CFO) – effective October 16 – and full-time CFO of the company from January 1, 2024.
There will be investment of Rs 45 thousand crores
The current CFO of the company, Ajay Seth will retire from the full time position of the company after 31st December. Thereafter, he will continue to be a member of the Executive Board (MEB). Speaking at the company's AGM, MSIL Chairman RC Bhargava said, the company will invest Rs 45,000 crore. It will be used to double the company's production from two million to four million in the next eight years (2031).
Will produce 6 EV
He said that MSIL will make six electric vehicles (EVs) by 2030, which will be produced at the Gujarat plant. Earlier this month, the country's largest carmaker revealed plans to buy its Japanese parent Suzuki Motor's plant in Gujarat to get a better grip on production, including EVs.
Company told plan for 2031
MSIL also expects to export eight lakh cars by financial year 2031. Bhargava said that by fiscal year 2023, it exported 2,59,333 vehicles. If we talk about the company's shares, they closed at Rs 9620.10 on BSE on Tuesday. According to the data, the company's shares opened at Rs 9595.05 and also reached the day's high of Rs 9677.65. At present the market cap of the company is more than Rs 2.90 lakh crore. In the first week of July the share price of the company had crossed Rs 10 thousand.
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