MARKET EYE-India's Maruti shares jump as CLSA upgrades to 'buy'

Mon Jan 7, 2013 10:09am IST

Related Topics

Stocks

   

* Shares in India's Maruti Suzuki gain 2.8 percent
after earlier touching its highest level since Jan 4, 2011,
after CLSA upgraded the stock to 'buy' from 'sell' with a target
price of 1,915 rupees.
* CLSA says Maruti's earnings is improving, with passenger
vehicle demand seen gradually recovering over fiscal 2014-15 on
the back of improving economic growth and falling interest
rates, according to a note dated on Saturday.    
* The brokerage also says Maruti's renewed focus on exports and
the launch of a new compact sports utility vehicle will add to
volumes.
* Earnings sensitivity to the Japanese yen will also wane
as the company builds more cars in India and boosts exports,
CLSA says. 
* CLSA's upgrade comes as the majority of analysts already have
'buy' or equivalent ratings, with 14 'buy' and 19 'outperform'
ratings, as per I/B/E/S estimates.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Power Outage

Power Outage

Mumbai hit by power cuts  Full Article 

Commodities

Commodities

Gold imports, premiums to jump on festive demand - top refiner  Full Article 

Economic Worries

Economic Worries

Pakistan's promises to IMF in doubt as protests sap economy   Full Article 

Islamic Finance

Islamic Finance

Basel III deposit challenge looms over Islamic banks   Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage