Maruti Udyog, India`s biggest car manufacturer, is planning to invest Rs 90 billion in its new plants; up-gradation of its Gurgaon facility; and on new series engines for its cars.

The company is coming up with a new car facility and diesel plant at Manesar.

Maruti intends to export its next high volume car targeted at tile European market from India.

In the meantime, the company’s shareowners at its 26th Annual General Meeting sanctioned the change in company’s name to “Maruti Suzuki India”.

The new name will come into effect after it is okayed by the Companies Registrar.

During the fiscal 2006-07, the net sales of the company augmented by 21.6% and profit after tax (PAT) developed by 31.4% over the previous year.

Shares of the company gained Rs 7.55, or 0.86%, to trade at Rs 880.60. The total volume of shares traded was 121,253 at the BSE. (1.53 p.m, Thursday)