Sharekhan recommended hold rating on Maruti Suzuki with a target price of Rs 6950 in its research report dated January 25, 2019.
Sharekhan's research report on Maruti Suzuki
MSIL’s Q3FY19 results were a significant miss; battered down by a subdued top-line on account of a weak consumer sentiment and huge cost pressures that are unlikely to ease in the near term. We expect MSIL earnings growth to remain in negative territory for next two to three quarters.
We downgrade our rating on the stock of Maruti Suzuki India Limited (MSIL) to “Hold” from “Buy” earlier with a PT of Rs 6,950 and advise investors not to add any fresh positions in the stock.
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