Maruti to focus on rural market

New Delhi: Maruti Suzuki India (MSI) is driving into the rural markets to boost sales. The company is planning to have presence in a total of one lakh villages across the country by March next year.

"The industry has seen a decline in sales by about 4-5 per cent this year. On the other hand, rural sales which accounts for about 30 per cent of our total sales have grown by 18 per cent in the April-November period this fiscal," MSI chairman R C Bhargava said. He said had it not been for the rural market, MSI "would have been in similar mess like the rest of the industry".

GSK's open offer in Indian arm from Feb 7

New Delhi: GlaxoSmithKline Plc's Rs 6,389.02 crore open offer to pick up 24.33 per cent stake in its Indian arm GlaxoSmithKline Pharmaceuticals will start from February 7, 2014.

In a filing to the BSE, GlaxoSmithKline Pharmaceuticals said the date of closing of tendering period (offer closing date) is February 21, 2014.

GlaxoSmithKline Plc (GSK) is looking at hiking its holding in GlaxoSmithKline Pharmaceuticals to up to 75 per cent from 50.67 per cent.

The open offer is for acquiring up to 20,609,774 shares representing 24.33 per cent of the voting share capital of the target company. The price being offered is Rs 3,100 per share, GSK Pharma said. pti

MAHB to buy GMR's stake in Turkish Airport

Hyderabad: Malaysia Airports Holdings Berhad plans to buy the entire 40 per cent stake of Indian firm GMR Infrastructure Ltd in Istanbul's Sabiha Gokcen International Airport project for 225 million euro (over Rs 1,900 crore).

GMR Infrastructure holds 27.55 per cent stake in Sabiha Gokcen airport, and its overseas firm GMR Infrastructure Overseas Ltd holds another 12.45 per cent. pti

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