Hold Maruti Suzuki, target Rs 1475: Nirmal Bang

Nirmal Bang has recommended a hold rating on Maruti Suzuki, with price target of Rs 1475 in its report.

" We believe that though the company being a leader in this segment & having more than 50% of market share, the competition is increasing in the A2 & A3 segments which are the major revenue earners for the company. We believe the company will record a volume growth of around 13% for FY10. But higher price realisation due to better product mix will help the company to improve its profit margins. We recommend a 'HOLD' on the stock with a price target of Rs 1475 per share," says Nirmal Bang's report.
Source : Money Control.

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Maruti's Q1 net profit up 25%

Maruti Suzuki, the country’s largest car manufacturer, posted a net profit of Rs 583.5 crore for the first quarter of the financial year 2009–10. This is a rise of 25.4 per cent against the Rs 465.9 crore earned for the same quarter last year.

Total sales for the period between April and June this year rose by 34 per cent, to Rs 6,340 crore.

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Maruti Suzuki India sales up 5.39% in Jan 09

Car market leader, Maruti Suzuki India (MSIL), announced a rise of 5.39% in its sales for the month of January 2009. The car maker sold 71,779 vehicles in January 2009 as against 68,107 vehicles in January 2007.

For the month of January 2009, domestic sales of the company increased by 5.58% to 67,005 vehicles. Its exports during the month rose 2.71% to 4,774 vehicles.

During the month, the company`s A3 segment consisting of SX4, Esteem and Desire increased 2.24 times to 6,590 vehicles The total sales for the passenger car segment rose 4.09% to 65,819 vehicles.

The company disclosed that this was its highest ever domestic and total sales in January 2009. It further disclosed that its previous highest monthly domestic sales were 65,216 units in November 2007 and its previous highest total sales of 71,772 units was registered in March 2007. - MyIRIS

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Maruti Q3 profit falls 54.3%, lags forecast

Maruti Suzuki India Ltd, the country's largest car maker, said quarterly profit fell 54.3 per cent, lagging forecasts due high raw material costs, lower volumes and adverse impact of currency changes.

New Delhi-based Maruti said on Thursday its net profit fell to Rs 2.14 billion ($43.8 million) in its fiscal third quarter ended December.

Net sales fell 2.8 per cent to Rs 46.26 billion, it said.

That compared with a net profit forecast of Rs 2.48 billion on net sales of Rs 43.22 billion in a Reuters poll.

Maruti, 54.2 per cent owned by Japan's Suzuki Motor Corp, holds almost half the Indian car market with models such as the best-selling Alto and Swift hatchbacks.

Shares in Maruti, valued at $3.2 billion, fell 24.3 per cent in the December quarter in line with the main index - ET

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It's really recession - Maruti sales decline 27.4%

India's no. 1 car market today said that its sales have declined 27.4% during November.

The domestic sales are down 26.9% at 47,704 unites against 65,216 unites same month last year.

Exports grew 11.7% at 5007 units from 4483 units.

This is basically due to decrease in consumer spending. People are now not willing to spend much on luxories.

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BNP Paribas maintains ‘buy’ rating on Maruti Suzuki India

Maruti Suzuki India 

CMP: Rs 511.35 

TARGET PRICE: Rs 760

BNP Paribas has maintained a ‘buy’ rating on Maruti Suzuki India even while lowering the target price from the earlier Rs 840 to Rs 760. The foreign broking firm expects the company to regain market share with the launch of A-Star. “We believe the new A-Star will help Maruti regain most of its 230bp market share loss in the compact car segment,” says the report. 

The report also explains that the newly-launched A-Star has “focused on value, with feature-rich offerings and high fuel efficiency, rather than on performance.” The A-Star and the impending launch of the Splash in 1QFY10 will improve Maruti’s position in the A2 segment, where it has a 57% market share but had not launched any new products in the past two years, the report goes on to add.

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