Anand Rathi gives Maruti Suzuki buy rating and ₹15,350 target
Business
Anand Rathi is feeling optimistic about Maruti Suzuki, giving it a buy rating and setting a target price of ₹15,350, even though standalone EBITDA declined by 6% y/y to ₹47.6bn in Q2FY27.
The brokerage believes Maruti's smart moves and steady demand could help the stock.
Maruti Suzuki sales grow 10% annually
Maruti is expected to grow its sales volume by 10% each year from FY26 to FY29, thanks to GST cuts on compact cars and new launches boosting its market share.
Exports should also see a 10% annual bump with support from Toyota and Suzuki's global network.
By FY29, revenue could climb 12%, EBITDA might jump 19%, and profits are projected to rise by 21%.