What is the story about?
Shares of Maruti Suzuki India Ltd
., the country's largest passenger vehicle maker, are likely to remain in focus on Friday, December 4, after global brokerage Goldman Sachs added the stock to its Asia Pacific conviction list.
Goldman Sachs has reiterated its 'Buy' recommendation with a target price of ₹19,000, indicating an upside of 19% from Thursday's closing price.
The foreign brokerage said demand elasticity in the small car segment is improving and the company is entering a favourable product cycle.
It added that post-GST price actions in entry-level models and compact SUVs could draw some two-wheeler customers into the car market.
Goldman Sachs also pointed to upcoming launches such as the Victoris and eVitara, which it expects will lift volumes by around 6% in FY27 compared with FY25.
The brokerage further said that the next pay commission cycle in FY28 and Maruti's positioning on CO₂ efficiency will act as additional tailwinds.
The automaker reported total sales of 2.29 lakh units in November, above a CNBC-TV18 poll of 2.13 lakh units. This was also 26% more than its total sales of 1.82 lakh units in November last year.
Of this, the company's domestic sales of 1.83 lakh units were up 19.7% from 1.53 lakh units in the year-ago period.
Maruti Suzuki's total exports witnessed a 61% increase at 46,057 units from 28,633 units last year.
Out of the 48 analysts that have coverage on Maruti Suzuki India, 41 of them have a 'Buy' rating on the stock, five of them say 'Hold', while two have a 'Sell' rating on the stock.
Shares of Maruti Suzuki India Ltd. ended 0.64% lower on Thursday at ₹15,979. The stock has gained over 42% so far in 2025.
Goldman Sachs has reiterated its 'Buy' recommendation with a target price of ₹19,000, indicating an upside of 19% from Thursday's closing price.
The foreign brokerage said demand elasticity in the small car segment is improving and the company is entering a favourable product cycle.
It added that post-GST price actions in entry-level models and compact SUVs could draw some two-wheeler customers into the car market.
Goldman Sachs also pointed to upcoming launches such as the Victoris and eVitara, which it expects will lift volumes by around 6% in FY27 compared with FY25.
The brokerage further said that the next pay commission cycle in FY28 and Maruti's positioning on CO₂ efficiency will act as additional tailwinds.
The automaker reported total sales of 2.29 lakh units in November, above a CNBC-TV18 poll of 2.13 lakh units. This was also 26% more than its total sales of 1.82 lakh units in November last year.
Of this, the company's domestic sales of 1.83 lakh units were up 19.7% from 1.53 lakh units in the year-ago period.
Maruti Suzuki's total exports witnessed a 61% increase at 46,057 units from 28,633 units last year.
Out of the 48 analysts that have coverage on Maruti Suzuki India, 41 of them have a 'Buy' rating on the stock, five of them say 'Hold', while two have a 'Sell' rating on the stock.
Shares of Maruti Suzuki India Ltd. ended 0.64% lower on Thursday at ₹15,979. The stock has gained over 42% so far in 2025.
