Shares of Maruti Suzuki India Ltd. are the leading gainers on the Nifty 50 index after brokerages cheered the business’s results that were reported on Wednesday.
Out of the 46 experts that have protection on Maruti, 31 of them have a “buy” score, 11 of them have a “hold” ranking, while 4 of them have a “sell” suggestion on the stock.
Maruti Suzuki India Ltd. reported an overall beat in the April-June duration inspiteof suppressed volume efficiency throughout the quarter.
EBITDA margin for the quarter broadened by almost 350 basis points to 12.5% from 9.2% in the base quarter. Maruti Suzuki’s margins were anticipated to increase by 220 basis points on account of a lower base and due to low raw product expenses.
Brokerage company Morgan Stanley has preserved its “overweight” score on the stock and raised its cost target on the stock to ₹15,145 from ₹14,105 earlier. The brokerage stated that the results from Maruti were “impressive” in a hard quarter.
It likewise stated that Maruti tracks the Nifty Auto index in terms of pe