Maruti Suzuki shares touch all-time high of Rs. 10,720
Maruti Suzuki has seen its shares rise by over 25% year-to-date, thanks to strong financials and the company's focus on petrol and CNG variants. The uptrend in Maruti stocks is also attributed to the management's announcement of increasing market shares during a conference call after the Q1 results in 2023. The company's new launches align with the Indian government's push to discourage diesel vehicles, making Maruti an attractive investment option.
A look at Maruti Suzuki's stock prices
Today, Maruti Suzuki opened at Rs. 10,535.15 per share on the NSE, and clocked an all-time high of Rs. 10,720. At the time of writing, it was trading at Rs. 10,649.85 per stock (up 1.06%) compared to yesterday. On the BSE, it was trading at Rs. 10,650 (up by 1.08%). Maruti Suzuki has a market cap of Rs. 3.22 lakh crore.
Attractive valuations and a robust economy boost Maruti
Saurabh Jain, Vice President of research at SMC Global Securities, said, "Maruti Suzuki shares are still available at attractive valuations, and the company's financials are in sound position due to its focus on petrol and CNG variants." The Indian economy's recent performance, with robust GST collection and better-than-expected GDP numbers, has also contributed to Maruti's success. The auto segment is a key indicator of India's economy, and rising public expenditure is expected to drive sales in this sector.
Maruti's growth and chart patterns signal success
The Indian economy's recent growth, coupled with Maruti Suzuki's focus on eco-friendly vehicles, has helped the company's shares reach new highs. Sumeet Bagadia, Executive Director at Choice Broking, said that Maruti stocks are looking positive on chart patterns, and new investors can buy them at current levels for an immediate target of Rs. 11,000, maintaining a stop loss at Rs. 10,200 apiece levels. This outlook suggests that Maruti Suzuki is well-positioned for continued success in the auto market.
