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Maruti Suzuki Share Price: Will Maruti be able to touch the level of ₹ 14000? This is the trend of analysts after Q3 results – Maruti Suzuki Share Price May Touch Rupees 14000 Says Analysts after Q3 Result Check Target Price

Maruti Suzuki Share Price: The country’s largest car company Maruti Suzuki was moving towards ₹ 14 thousand in August 2024 last year but it is currently around ₹ 12000. However, after the results of the December quarter, brokerage firms believe that it can touch the level of ₹ 14 thousand. The December quarter results came as expected by analysts. Currently, it is 0.32 per cent gained at ₹ 12011.60 on BSE. It jumped 1.23 per cent to ₹ 12120.00 in intra-day.

Out of 48 analysts covering Maruti, 36 have purchased it, nine holds hold and three have sales ratings. Last year, on 31 January 2024, it was at a one -year -low level at ₹ 9,915.75 and on 1 August 2024 at a record high of ₹ 13,675.00. Currently, it is about 11 per cent downside from record high.

What is the trend of analysts about Maruti Suzuki?

The global brokerage firm CLSA has retained Maruti’s outperform rating and has increased the target price from ₹ 12,631 to ₹ 13,446. Brokerage increased the target by one quarter to March 2027. According to the CLSA, the margin slipped 0.60 per cent on a quarterly basis despite the increase in sales due to higher expenses on add. The gross margin remained as expected but the remaining expenses were more than expected. Due to dull demand, the company had to spend more on the add. In the midst of all this, CLSA positive remains and it believes that the demand for CNG cars will remain strong.

Morgan Stanley is also a lake overweight to Maruti and has fixed its target price at ₹ 14,942. Brokerage says the EBIT margin showed power despite high discounts. The margin can also be called good amidst dull demand growth. Maruti’s exports rose 38 per cent in the December quarter and had 18.4 per cent stake in the total sales. The company aims to start production of Pure-EV model E-Vitara in the coming month. In the December quarter, the company’s revenue rose 16 per cent on an annual basis, EBITDA 14 per cent and EBIT 16 per cent.

Jeffers has given a hold rating to Maruti and fixed the target price ₹ 12,123. Brokerage has out of the result that EBITDA did not exist in the December quarter. Apart from this, PV registration growth was also sluggish. Maruti’s stake in PV Market came down to 12 -year low due to the demand shift towards SUV from the car. However, the company’s performance in exports was good.

McWery has given Maruti a neutral rating at a target price of ₹ 12,296. Brokerage says the December quarter results remained as expected. Now, talking further, the demand for the export and entry segment of the battery electric vessel (BEV) will have to be monitored. Apart from this, the recent price in Near Term will have to be monitored on the impact on the demand of hike. The EBIT remained according to estimates in the December quarter but the gross margin showed improvement on a quarterly basis and more than expected. However, the EBIT margin shocked the EBIT margin due to the higher expenditure on the employees and the surge in the remaining expenses. It also suffered a shock due to high discounts, add expenses and fluctuations in foreign currency.

Maruti Suzuki Q3 Results: Net profit increased by 16% in December quarter, better results

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