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    Sell Maruti Suzuki India, target price Rs 6260: ICICI Securities

    Synopsis

    Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 196974.32 Crore) operating in Auto sector.

    Promoters held 56.4 per cent stake in the company as of Dec 30, 2020, while FIIs held 23.1 per cent, DIIs 15.7 per cent and public and others 4.9 per cent.

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    has sell call on India with a target price of Rs 6260. The current market price of Maruti Suzuki India Ltd. is Rs 6587.4.

    Maruti Suzuki India Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 196974.32 Crore) operating in Auto sector.

    Financials
    For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 24465.10 Crore, up 26.45 % from last quarter Total Income of Rs 19347.90 Crore and up 13.76 % from last year same quarter Total Income of Rs 21505.90 Crore. Company reported net profit after tax of Rs 1937.00 Crore in latest quarter.

    Investment Rationale
    Price closed below previous major lows of October 2020 and is seen sustaining below its 52 weeks EMA

    Promoter/FII Holdings
    Promoters held 56.4 per cent stake in the company as of Dec 30, 2020, while FIIs held 23.1 per cent, DIIs 15.7 per cent and public and others 4.9 per cent.
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