Maruti Suzuki Share price: Driving on growth, says Sharekhan
Maruti Suzuki is witnessing strong recovery in sales volumes and is likely to have FY2021E-end growth flat on a yoy basis, despite a 36.6% yoy decline in H1 FY2021 due to COVID-19 pandemic. Channel check suggests that demand in the PV segment remains buoyant even after the festive season. Retail sales have registered strong growth of 17-18% yoy in the last 15 days of November 2020 post- festive sales. This is a strong number and underpins our positive view on the sector. Exports are also picking up, registering 29.7% yoy growth in November 2020.
Sharekhan retains their Buy rating on Maruti Suzuki with a revised price target of Rs 8500: Reuters