Japanese car maker Suzuki Motor Corporation announced plans to expand its SUV portfolio in India in order to regain its market share in the passenger vehicle segment. The company reported a 15.8 percent increase in net sales for the last financial year.
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Maruti Suzuki India has partnered with IDBI Bank to offer financing solutions for dealers. The alliance will empower over 4,000 Maruti Suzuki sales outlets across India with working capital funding options. This move is aimed at supporting and enhancing the capabilities of dealer partners in the growing Indian passenger vehicle market. IDBI Bank’s supply chain finance will provide easy access to working capital finance at favourable terms, according to IDBI Bank’s MD Rakesh Sharma.
ICICI Direct has sell call on Maruti Suzuki India with a target price of Rs 9252. The current market price of Maruti Suzuki India is Rs 9313.45. Find out more about Maruti Suzuki India’s financials and promoter/FII holdings.
