Country's leading carmaker Maruti Suzuki India (MSI) has announced that HSBC Global Investment Funds has increased its stake in the company to 7.03 per cent through an open market transaction.

HSBC Global Investment Funds has bought 0.15 per cent stake, comprising 4.38 lakh shares on September 14, the auto firm said in a statement yesterday.

However, the financial details of the transactions were not disclosed.

Prior to this transaction, HSBC had 6.88 per cent stake in the company, comprising 1.99 crore shares.

Japanese Suzuki Motor Corp owns 54.21 per cent stake in MSI.