Buy Maruti Suzuki India, target price Rs 8850: IIFL

IIFL has buy call on Maruti Suzuki India with a target price of Rs 8850. The current market price of Maruti Suzuki India Ltd. is Rs 8047. 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 259867.39 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 31-12-2021, the company reported a Consolidated Total Income of Rs 23581.20 Crore, up 11.99 % from last quarter Total Income of Rs 21056.50 Crore and down -3.61 % from last year same quarter Total Income of Rs 24465.10 Crore. Company reported net profit after tax of Rs 1014.30 Crore in latest quarter.

Investment Rationale
Stock has given an inverse head & shoulder breakout on the weekly chart.

Promoter/FII Holdings
Promoters held 56.37 per cent stake in the company as of 31-Dec-2021, while FIIs owned 23.6 per cent, DIIs 15.28 per cent.