Maruti Suzuki India has target of Rs 1550: Dipesh Mehta

Dipesh Mehta, Nirmal Bang Securities is of the view that Maruti Suzuki India has target of Rs 1550.

Mehta told CNBC-TV18, "Maruti Suzuki India has got tremendous long and it has gone up 1-1.5 percent since morning. It has the potential to go up to Rs 1,420 on the higher side. On the medium-term basis also it has made a strong base around Rs 1,260-1,280 levels. With that support, for the medium-term also people can put Maruti Suzuki India in their portfolio for targets of Rs 1,550 on the longer side."
The share touched its 52-week high Rs 1,637.60 and 52-week low Rs 1,077.00 on 06 February, 2013 and 04 June, 2012, respectively. Currently, it is trading 13.5 percent below its 52-week high and 31.53 percent above its 52-week low. Market capitalisation stands at Rs 40,927 crore.
The company's trailing 12-month (TTM) EPS was at Rs 79.22 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 17.87. The latest book value of the company is Rs 525.68 per share. At current value, the price-to-book value of the company was 2.69. The dividend yield of the company was 0.53 percent.