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Buy Maruti Suzuki; target of Rs 10,000: ICICI Direct

ICICI Direct is bullish on Maruti Suzuki has recommended buy rating on the stock with a target price of Rs 10,000 in its research report dated July 28, 2022.

July 29, 2022 / 07:00 PM IST
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ICICI Direct's research report on Maruti Suzuki

Maruti Suzuki (MSIL) is the market leader in the domestic passenger vehicle (PV) space with market share pegged at ~43.4% and popular models being Alto, WagonR, Swift, Brezza, Baleno, Ertiga, etc., among others. Market leader in each sub-segment - cars (63.6%), UV (19.5%), vans (95.7%) • Strong b/s; ~₹ 42,000 crore cash and investment on books as of FY22.


Upgrading our estimates, we now value MSIL at Rs 10,000 i.e., 33x P/E on FY24E EPS of ₹333/share (previous target Rs 9,630).

For all recommendations report, click here


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Maruti Suzuki - 280722 - icici

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first published: Jul 29, 2022 07:00 pm
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