Buy Maruti Suzuki, target price Rs 7600: Motilal Oswal

Motilal Oswal has buy call on Maruti Suzuki India with a target price of Rs 7600. The current market price of Maruti Suzuki India Ltd. is Rs 7247.8.

Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 218977.84 Crore) operating in Auto sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 24465.10 Crore, up 26.45 % from last quarter Total Income of Rs 19347.90 Crore and up 13.76 % from last year same quarter Total Income of Rs 21505.90 Crore. Company reported net profit after tax of Rs 1937.00 Crore in latest quarter.


Investment Rationale
Stock has bottomed out and recovering from lower levels.

Promoter/FII Holdings
Promoters held 56.4 per cent stake in the company as of Dec 30, 2020, while FIIs held 23.1 per cent, DIIs 15.7 and public and others 4.9 per cent.