Buy Maruti Suzuki India, target price Rs 8520: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Maruti Suzuki India Ltd. with a target price of Rs 8520. The current market price of Maruti Suzuki India Ltd. is Rs 8188.6. 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 247391.49 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 30-09-2021, the company reported a Consolidated Total Income of Rs 21056.50 Crore, up 15.16 % from last quarter Total Income of Rs 18284.30 Crore and up 8.83 % from last year same quarter Total Income of Rs 19347.90 Crore. Company reported net profit after tax of Rs 460.00 Crore in latest quarter.


Investment Rationale
Higher highs since three weeks, increased price volumes with outperformance in auto sector

Promoter/FII Holdings
Promoters held 56.37 per cent stake in the company as of 30-Sep-2021, while FIIs owned 22.52 per cent, DIIs 15.98 per cent.