Buy Maruti Suzuki India, target price Rs 8100: Yes Securities

Yes Securities has buy call on Maruti Suzuki India with a target price of Rs 8100.

The current market price of Maruti Suzuki India Ltd. is Rs 7692.95.

Time period given by analyst is Intra Day when Maruti Suzuki India Ltd. price can reach defined target.


Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 232414.36 Crore) operating in Auto sector.

Maruti Suzuki India Ltd. key Products/Revenue Segments include Passenger Cars & Light Duty Utility Vehicles, Mould & Dies, Other Operating Revenue, Service Income, Scrap, Rental Income for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 18284.30 Crore, down -24.21 % from last quarter Total Income of Rs 24124.20 Crore and up 236.79 % from last year same quarter Total Income of Rs 5429.00 Crore. Company reported net profit after tax of Rs 439.10 Crore in latest quarter.

Investment Rationale
The stock is on the verge of a breakout of a sideways consolidation suggesting bullishness. Moreover, volumes have been encouraging. Further, RSI has turned upwards above the 60 levels after formation of a positive reversal pattern suggesting strength.

Promoter/FII Holdings
Promoters held 56.37 per cent stake in the company as of 30-Jun-2021, while FIIs owned 22.9 per cent, DIIs 15.76 per cent.