Citigroup cut its rating on Maruti Suzuki India Ltd. Know why
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Citi also cut its price target for Maruti to 4,465 rupees per share from 4,832 rupees earlier. The report says that Maruti's margins may have peaked at 16.3 percent from 11.7 percent 5 quarters ago. Hence, operational upticks in the coming quarters seemed muted.
As a consequence, Maruti fell 18 rupees, or 0.4 percent, to 4,189 rupees on the
Maruti has seen its market capitalisation surge 52 percent to 1.27 lakh crore rupees in the past one year as first time buyers preferred its fuel-efficient and inexpensive cars over smaller rivals' products. Maruti's nationwide reach is also touted as a strong entry barrier for other companies.
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Image credit: Indiatimes
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