Motilal Oswal's research report on Maruti Suzuki
Maruti Suzuki (MSIL) reported an in-line operating quarter driven by higher realization. Favorable product lifecycle is likely to drive volumes, market share and margins, whereas moderating commodity prices and favorable FX are expected to boost margins.
Outlook
We maintain our FY23E/FY24E EPS. Reiterate BUY with a TP of INR10,700 (premised on ~27x Jun’24E consolidated EPS).
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