Sharekhan recommended Hold rating on Maruti Suzuki with a target price of Rs 6075 in its research report dated July 26, 2019.
Sharekhan's research report on Maruti Suzuki
Q1 results were in line with estimates; however management sounded cautious and stated that PV industry demand is unlikely to revive in near term. Margin pressures due to weak industry demand, rising competiton and regulatory cost increases would lead to muted earnings growth in remainder of 9MFY2020. We have cut our estimates by 10% and 18% respectively for FY2020 and FY2021. We maintain cautious view and continue to recommend investors to not add any fresh position in the stock.
We retain Hold rating on Maruti Suzuki India Ltd (MSIL) with a revised PT of Rs 6,075.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.