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Maruti: Raw material and COVID pose challenges, valuation reasonable

The preference for personal mobility will continue to aid demand. Maruti is likely to be a key gainer

April 28, 2021 / 12:54 PM IST
Maruti: Raw material and COVID pose challenges, valuation reasonable

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Maruti Suzuki India (CMP: Rs 6,569; Mcap: Rs 1.98 lakh crore) has ended FY21 on a positive note amid all the uncertainties due to the pandemic. The car-maker posted a strong quarterly performance albeit on a low base of the same quarter in the previous year. The full year performance was also encouraging given that the first quarter of FY21 was a complete washout for the company. The stock of Maruti Suzuki has fallen 22 per cent from its January...

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