Motilal Oswal has given Buy recommendation for Maruti Suzuki recommended buy rating on the stock with a target price of Rs 10,300 in its research rep with a target price of Rs. 10,300 in its research report issued on Feb 02, 2022
Motilal Oswal’s research report on Maruti Suzuki
After operating in a head-winded environment for the last two years, without the support of new product launches, Maruti Suzuki India Ltd (MSIL) is gradually getting back on course for market share and margin recovery. On one hand, MSIL’s product lifecycle is turning favorable, and on other hand, supply-side and RM costs are stabilizing. This should aid recovery in market share and margins over the next two years. While EV disruption is a risk, we see an inflection point for e-PVs to be back-ended and MSIL to launch its EVs just in time by CY25E. MSIL is our top pick in Autos.
We maintain Buy, with TP of ~INR10,300 (~27x Mar’24E consol. EPS).
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At 17:30 Maruti Suzuki India was quoting at Rs 8,590.15, up Rs 73.40, or 0.86 percent.
It has touched an intraday high of Rs 8,793.00 and an intraday low of Rs 8,520.00.
It was trading with volumes of 28,580 shares, compared to its thirty day average of 23,062 shares, an increase of 23.93 percent.
In the previous trading session, the share closed down 0.48 percent or Rs 40.75 at Rs 8,516.75.
The share touched its 52-week high Rs 8,966.80 and 52-week low Rs 6,301.20 on 27 January, 2022 and 24 February, 2021, respectively.
Currently, it is trading 4.2 percent below its 52-week high and 36.33 percent above its 52-week low.
Market capitalisation stands at Rs 259,491.30 crore.