MUMBAI: Maruti Udyog is planning to change its name to Maruti Suzuki India Ltd. The new name will come into effect only after it is approved by shareholders at the annual general meeting and thereafter by the Registrar of Companies.

In the new name, Maruti continues to have a predominant position. Suzuki, in the corporate name, imparts an international dimension. Besides being the parent company, Suzuki Motor Corporation is a leading player in the global automobile market.

This international dimension in the auto major's name will help the company as it expands its role in global markets. Maruti is set to launch a model for export to Europe in the next couple of years, while building on its recent success in Afro-Asian markets. The company is also developing capabilities to become Suzuki's Research & Development hub for Asia, outside Japan.

India, in the corporate name, while conveying the location of the company and its facilities, also recognizes the growing importance of the country, across the world, the company said in a notice to BSE.

Thursday, Maruti Udyog posted 26% increase in net profit to Rs 499.6 crore for the quarter ended June 30, 2007 compared with Rs 369.57 crore for the same quarter previous year. The auto major’s total income increased to Rs 4154.07 crore in the June quarter from Rs 3268.77 crore a year ago.

At 2:38 PM, the share was up 4.62% at Rs 847. Intra-day, the stock has seen a high of Rs 857.90 and low of Rs 814.15. The BSE counter clocked a volume of 653745 against two-week average of 98520 shares.