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

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

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