ICICI Direct recommends selling Maruti Suzuki India with target price of Rs 9252

ICICI Direct recommends selling Maruti Suzuki India with target price of Rs 9252

Maruti Suzuki India, incorporated in 1981, is a Large Cap company operating in the Auto sector. It has a market cap of Rs 281588.46 Crore. Promoters hold 56.48% stake in the company. FIIs own 21.87%, while DIIs own 18.05%. ICICI Direct has recommended to sell Maruti Suzuki India with a target price of Rs 9252. The current market price is Rs 9313.45. The company’s key products/revenue segments include Passenger Cars & Light Duty Utility Vehicles, Spare Parts & Components, Other Operating Revenue, Service Income, Scrap, Mould & Dies, and Rental Income. For the quarter ended 30-06-2023, the company reported a Consolidated Total Income of Rs 33316.90 Crore, up 1.57% from the previous quarter. The net profit after tax for the latest quarter was Rs 2463.00 Crore. The stock is currently in a downtrend and sustaining below the 13 days EMA, indicating further downward momentum. Promoters hold 56.48% stake in the company, while FIIs own 21.87% and DIIs own 18.05%. (Disclaimer: This recommendation is authored by an external party and does not represent the views of Economic Times. Please consult your financial adviser.)

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