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Buy Maruti Suzuki India: target of Rs 9820: Sharekhan

Sharekhan is bullish on Maruti Suzuki India has recommended buy rating on the stock with a target price of Rs 9820 in its research report dated April 29, 2022.

April 30, 2022 / 10:13 PM IST
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Sharekhan's research report on Maruti Suzuki India

For Q4FY2022, Maruti Suzuki India Limited’s (MSIL) operational performance exceeded expectations, driven by operating leverage benefits, lower sales promotion, and price hikes. MSIL is likely to benefit from rural and semi-urban demand, led by the marriage season and improved cash flows in the hands of consumers due to harvesting of Rabi crop. Earnings are expected to post a 61.6% CAGR during FY2022-FY2024E, driven by a 19.7% revenue CAGR and 440-bps improvement in EBITDA margin.


We retain our Buy rating on the stock with an unchanged PT of Rs. 9,820, led by buoyant demand and comfortable valuations.

For all recommendations report, click here

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first published: Apr 30, 2022 10:13 pm