Maruti stock hits 52-week high on strong Q2 results. What brokerages say
ADVERTISEMENT
The shares of Maruti Suzuki surged as much as 1.31% to hit a 52-week high at ₹9,768 on Monday after leading brokerage firms raised the company’s target price and gave a ‘buy’ call for the auto stock.
The development comes days after the auto major on Friday reported a four-fold jump in net profit to ₹2,061.5 crore during the July to September quarter this year, as compared to ₹475.3 crore in the same period last year. The company’s standalone revenue from operations surged as much as 46% year-on-year (YoY) to ₹29,931 crore.
On Monday, the brokerage firm Jefferies raised the target price for the Maruti stocks to ₹12,000 per share citing a positive outlook in the demand of the automobile maker. Moreover, for FY23-25, the analysts at the firm have raised earnings per stocks (EPS) by 3% to 8%. The brokerage firm has given a ‘buy’ call for the stock. Meanwhile, Goldman Sachs and HSBC have also maintained a ‘Buy’ call for the auto stock, by raising the target price to ₹12,500 and ₹11,000, respectively.
Notably, Citi has also raised the target price for the auto stock at ₹12,500 per share, thus giving a buy call. The brokerage firm had earlier set the target price at ₹10,300 per share. Citing a positive volume outlook and strong order book, the brokerage firm has increased the volume estimates by 3% and EBITDA estimates by 6% for FY23-25.
January 2026
Netflix, which has been in India for a decade, has successfully struck a balance between high-class premium content and pricing that attracts a range of customers. Find out how the U.S. streaming giant evolved in India, plus an exclusive interview with CEO Ted Sarandos. Also read about the Best Investments for 2026, and how rising growth and easing inflation will come in handy for finance minister Nirmala Sitharaman as she prepares Budget 2026.
Similarly, brokerage firm JM Financial has raised the target price of the auto stock to ₹12,000, whereas Nirmal Bang has raised ₹11,412 apiece from its previous ₹11,000 thus maintaining a ‘Buy’ call for the auto stock.
On the contrary, taking a ‘Neutral’ call, JP Morgan has raised the target price to ₹8,700 from ₹8,400 per share. The brokerage firm has increased the EPS estimates by 3% to 4% for FY23-25. Morgan Stanley has maintained an ‘Overweight’ call for the auto stock with a target price of ₹9,839.
Moreover, the brokerage firms CLSA and Kotak Institutional Equities have a ‘Sell’ call for the auto stocks with the target price at ₹7,597 and ₹8,150, respectively.