In the year 2024, Maruti Suzuki share has given 28 percent profit. The price of this share has increased by 35 percent in one year. Maruti Suzuki shares have strengthened by 9 percent in a month.
New Delhi. Maruti Suzuki India Limited released its June quarter results yesterday, i.e. on 31 July. Investors, overjoyed with the company’s quarterly results, rushed to buy Maruti Suzuki shares as soon as the market opened today. The stock rose 4 per cent to Rs 13,680 intraday. This is its 52-week high. After this, the stock declined and at 12:25 pm, Maruti Suzuki stock was trading at Rs 13,206.65 (Maruti Suzuki India Share Price) on NSE with a gain of 0.69 per cent. After the June quarter results, brokerage houses are also bullish about this stock. 31 brokerages have advised investors to buy Maruti Suzuki shares.
Maruti Suzuki’s June quarter results have been better than expected. In a Moneycontrol poll of 8 brokerage companies, it was estimated that the auto company’s first quarter net profit would be Rs 3,235 crore and revenue Rs 34,566 crore. Whereas in the first quarter (April-June) of the current financial year, Maruti Suzuki’s net profit increased by 46.9 percent. During this period, the company recorded a net profit of Rs 3,650 crore. In the same quarter last year, the company’s profit was Rs 2,485.1 crore. The company’s April-June revenue increased by 10 percent to Rs 35,531 crore, which was Rs 32,327 crore in the same quarter a year ago.
31 brokerages gave buy advice
Out of 46 analysts covering Maruti Suzuki, 31 have given a ‘buy’ rating. 11 have given a ‘hold’ rating while only four have advised to sell this stock. Brokerage firm Morgan Stanley has maintained its ‘overweight’ rating on the stock and increased the target price from ₹ 14,105 to ₹ 15,145.
CLSA has also maintained its “outperform” rating on Maruti with a target price of ₹15,000. Brokerage firm Nomura has a “neutral” rating on Maruti. The brokerage has given the auto stock a target price of ₹13,133. Jefferies has also raised its target price on Maruti to ₹15,200 from the earlier ₹14,750.
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Tags: Business news, Maruti Suzuki, Stock market, Stock market today, Stock tips
FIRST PUBLISHED : August 1, 2024, 12:51 IST