Buy Maruti Suzuki India, target price Rs 8650: Motilal Oswal

Motilal Oswal has buy call on Maruti Suzuki with a target price of Rs 8650. The current market price of Maruti Suzuki India Ltd. is Rs 8217.

Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 248694.96 Crore) operating in Auto sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 17691.90 Crore, up 380.89 % from last quarter Sales of Rs 3679.00 Crore and up 9.73 % from last year same quarter Sales of Rs 16123.20 Crore Company reported net profit after tax of Rs 1362.40 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 56.4 per cent stake in the company as of Sept 30, 2020, while FIIs and DIIs held 21.9 per cent and 16.8 per cent and public and others 5 per cent.