Karvy Stock Broking has maintained its underperformer rating on Maruti Suzuki India with a target price of Rs 1358 in its October 9, 2009 research report. At 12:27 pm, the share was quoting at Rs 1,497.00, down Rs 13.6, or 0.9%.
"We expect Maruti Suzuki India (MSIL) to report robust set of results during 2QFY10E primarily on back of strong volume growth in both the domestic and export markets. MSIL's volumes have increase by 30% on YoY basis from 189,451 units to 246,188 units. We maintain our Underperformer rating on the stock with a price target of Rs 1,358," says Karvy Stock Broking's research report.
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