Buy Maruti Suzuki India, target price Rs 9200: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Maruti Suzuki India with a target price of Rs 9200. The current market price of Maruti Suzuki India is Rs 8780.75. 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 265167.39 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 31-03-2022, the company reported a Consolidated Total Income of Rs 27191.90 Crore, up 15.31 % from last quarter Total Income of Rs 23581.20 Crore and up 12.72 % from last year same quarter Total Income of Rs 24124.20 Crore. Company reported net profit after tax of Rs 1804.20 Crore in latest quarter.

Investment Rationale
Came out of its range on weekly frame and breakout on daily frame and after surpassing past hurdle

Promoter/FII Holdings
Promoters held 56.37 per cent stake in the company as of 31-Mar-2022, while FIIs owned 22.57 per cent, DIIs 16.25 per cent.