Motilal Oswal's research report on Maruti Suzuki
Maruti Suzuki (MSIL)’s product pipeline has just kick-started with upgrades of key models and it is on the cusp of launching new models. While return of product lifecycle will drive market share recovery (~600bp by end-FY24E), strong demand, improving supplies and stable commodity prices will propel EBIT margin improvement of ~550bp for MSIL. The recent decline in commodity prices and favorable JPYINR movement can add ~180bp to margins (not part of our estimates) and 17% EPS upgrade for FY24E.
We maintain our BUY rating on MSIL with a TP of ~INR10,000 (premised on ~27x Jun’24E consol. EPS).
At 10:11 hrs Maruti Suzuki India was quoting at Rs 7,900.00, up Rs 89.25, or 1.14 percent.
It has touched an intraday high of Rs 7,909.00 and an intraday low of Rs 7,811.65.
It was trading with volumes of 4,445 shares, compared to its thirty day average of 24,156 shares, a decrease of -81.60 percent.
In the previous trading session, the share closed down 1.08 percent or Rs 85.50 at Rs 7,810.75.
The share touched its 52-week high Rs 9,022.00 and 52-week low Rs 6,540.00 on 10 February, 2022 and 08 March, 2022, respectively.
Currently, it is trading 12.44 percent below its 52-week high and 20.8 percent above its 52-week low.
Market capitalisation stands at Rs 238,643.25 crore.
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