Maruti may hit Rs 4500, Tata Motors Rs 600: Hitesh Goel

Hitesh Goel, senior analyst at Kotak Institutional Equities told CNBC-TV18, "Target price of Maruti Suzuki is Rs 4500, we will look at revising the target price once the results come through. The margin estimates are much lower than what they are likely to report, so we have not fully built in the material cost benefits in our numbers. Our estimates will be looked upon when the results come through."

"For Tata Motors, our target price is Rs 600, that is based on pretty strong volume growth of JLR in the second half, so we will maintain these estimates and target prices as of now," he said.

At 12:47 hrs Tata Motors was quoting at Rs 395.50, up Rs 1.20, or 0.30 percent. It has touched an intraday high of Rs 398.55 and an intraday low of Rs 392.60.