Maruti Suzuki drives in Stingray for Rs 4.09 lakh Asian Paints buys 25.72% extra stake in Berger Intl July credit policy: RBI went by majority opinion and maintained status quo
API will make an open offer to fully buy the Singapore-based firm
Maruti Suzuki has introduced its Stingray small car to the Indian market. Based on the big selling Wagon R, the Stingray is meant to expand Maruti Suzuki’s product portfolio and offer a stylish option to the youngsters in the small car segment.
The new Stingray, apart from a stylish exterior, also boasts some new features which are a first for the class it represents. Of these, projector headlamps are the most mentionable feature – a first for this segment of cars.
On the outside, the Stingray offers a bold and aggressive design. The new front fascia, along with side skirts, blacked out B-pillars and a roof mounted rear spoiler lends loads of character to the Stingray. Other exterior features include the gunmetal-grey alloywheels, chrome plated tail lamps and chrome backdoor garnish with ‘Stingray’ embossing. The Stingray can be ordered in a choice of 5 colors - Midnight Blue, Passion Red, Glistening Grey, Superior White and Silky Silver.
On the inside, the Stingray features all-black interior with premium upholstery for the segment. Materials with a piano black finish try to lend some premium appeal to the cabin with their glossy look. To add to the premium feel, Maruti have used chrome on door handles and AC louvers.
The car features a new blue backlit instrument cluster with a multi information display that shows instant and average fuel economy, distance to empty etc. The steering wheel is now a multifunction unit with mounted audio controls, and is wrapped in leather for the top variant.
Powered by a the 998cc three-cylinder K-series engine, which propels other Maruti Suzuki cars such as the Wagon R and theAlto K10 as well, the Stingray boasts peak power of 68PS @ 6200rpm and peak torque rated at 90Nm @ 3500 rpm. Maruti Suzuki is claiming a standard fuel efficiency of 20.51 kmpl for the new car.
The Maruti Suzuki stingray is available in Lxi and Vxi variants, with ABS and Driver Airbag available as additional options for the VXi variant. The ex-show- room Delhi prices for these variants are provided below. These prices are introductory and may be revised soon. Stingray Lxi 409,999 Stingray Vxi 437,999 Stingray Vxi (O) 466,999
On the introduction, Mr. Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited, said, “With Stingray, we carry forward our focus to make our best sellers even more attractive. The aggressively designed Stingray reinforces the fact that compact cars that are high on utility and reliability can also be premium and stylish. For the younger customers who aspire for a bold and aggressively styled car, the Stingray will be a delightful choice.” Asian Paints International Ltd acquired additional 25.72 % stake in Berger International Ltd and said it will make an open offer to fully acquire the Singaporebased company.
APIL, which already held 50.1 % stake in BIL, raised it to 75.82 % by buying shares for Singapore dollar (SD) 0.25 per scrip, totalling SD 6.68 million. APIL believes that the delisting of BIL will provide greater flexibility to manage, develop and optimise the use of the management and capital resources and facilitate the implementation of any operational change, it said.
Asian Paints said it has no present intention to introduce any major changes to the businesses of Berger. Reserve Bank Governor D Subbarao moved with the majority opinion of TAC members and maintained status quo in the first quarter monetary policy review last month in the light of prevalent internal and external economic situation. "On monetary policy measures, four of the seven members (Technical Advisory Committee on Monetary Policy) recommended maintenance of status quo in the policy repo rate," RBI said in a statement. "In their view, though growth and inflation are projected to move down, we still have to guard against high inflation expectations that can destabilise the momentum of the economy," it said. Moreover, it added, the exter nal front is fragile and warrants that RBI should not do anything that can send wrong signals about our discounting the possi- bility of capital outflows. On July 30, RBI chose to keep all key interest rates unchanged amid the depreciating rupee putting pressure on inflation and current account deficit.
Accordingly, the repo rate or the rate at which RBI lends to the system, has been retained at 7.25 per cent and the cash reserve ratio, the amount of deposits banks park with RBI, has been kept unchanged at 4 per cent.