Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  

| More

Gladiator Stocks - Maruti Suzuki India - ICICI Direct

Posted On: 2020-11-19 22:28:16


Buy Maruti Suzuki India in the range of Rs. 6950.00-7100.00 for target price of Rs. 7810.00 with a stop loss of Rs. 6650.00. Time Frame: Six months

Technical View

The share price has formed a higher base (Rs. 7350-6270) after witnessing the strongest rally (82% off March low Rs. 4001) since December 2017. Currently, the stock is on the verge of resolving out of ongoing consolidation, which would open the doors for the next leg of up move. Hence, this offers a fresh entry opportunity

Key point to highlight is that the stock has been sustaining above its 10 weeks EMA since May 2020. Currently, it has formed a higher base above it, indicating inherent strength

Structurally, the stock witnessed a slower pace of retracement as over the past 10 weeks it has merely retraced 61.8% of the preceding eight week's rally (Rs. 5750-7350), at Rs. 6361, indicating healthy consolidation that has set the stage for acceleration of upward momentum

Aforementioned technical evidence suggests the ongoing base formation has paved the way for the stock to head towards Rs. 7810 in coming months as it is 138.2% external retracement of last leg of decline (Rs. 7350-6270),at Rs. 7762

Fundamental View

Maruti Suzuki (MSIL) is the market leader in the Indian PV space, commanding ~51% market share (domestic sales basis) as of FY20. Further, it is the market leader in all individual PV sub-segments i.e. passenger cars (PC), utility vehicles (UV) and vans. The company has a host of popular models in its portfolio such as Alto, Swift, Wagon R, Ciaz, Dzire and Baleno in PC; Ertiga, Brezza and S-Cross in UV and Eeco in vans

Contrary to our earlier expectations, the PV space has rebounded faster than 2-W segment after the nationwide unlock programme. The segment, as a whole, grew 10% YoY at the retail level in September following months of consecutive rapid MoM improvement. We believe that while some of the earlier volume offtake would have been on account of pent up demand post lifting of lockdown restrictions, there is also an element of increased preference for personal mobility in the wake of the pandemic (concerns around public transport). Alongside these factors, efforts by OEMs centred around digital marketing and increased financing options (tie ups with banks, NBFCs for multiple offerings on beneficial terms) have helped the segment post a quicker than expected turnaround

For details, click on the link below:

Shares of MARUTI SUZUKI INDIA LTD. was last trading in BSE at Rs.6961.35 as compared to the previous close of Rs. 7055.3. The total number of shares traded during the day was 63835 in over 12485 trades.

The stock hit an intraday high of Rs. 7126.9 and intraday low of 6920. The net turnover during the day was Rs. 451139518.

Source: Equity Bulls

Click here to send ur comments or to

Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only., its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.

Other Headlines:

Vardhman Special Steel - Q2FY21 Company Update - ICICI Direct

Initiating Coverage - Advanced Enzyme Technologies - ICICI Direct

L&T - Secures Large Contract - Nov 25, 2020 - Angel Broking

Alembic Pharmaceuticals - Tentative Approval for JV - Angel Broking

Drug launch by Lupin - Tacrolimus Capsules - Angel Broking

Gujarat Gas - Nov 25, 2020 - Angel Broking

Metropolis Healthcare - Nov 25, 2020 - Angel Broking

NTPC - Showcase of strength & competitiveness - ICICI Securities

Telecom - Market Share TRACKER - Bharti is narrowing the gap on incremental market share vs RJio - ICICI Securities

Cochin Shipyard - Q2FY21 Result Update - ICICI Direct

Engineers India - Q2FY21 Result Update - ICICI Direct

Rupee - Nov 24, 2020 - Reliance Securities

FMCG Sector Update - Recovery unlocked; lower growth divergence - HDFC Securities

Engineers India - Consultancy segment outperformance - ICICI Securities

Engineers India - Q2 FY21 Result Update - YES SECURITIES

Motherson Sumi Systems - Company Update - Virtual Investor Conference - ICICI Direct

Mutual Fund Review - November, 2020 - ICICI Direct

Sadbhav Engineering - Q2FY21 Company Update - ICICI Direct

IRB Infrastructure - Q2FY21 Company Update - ICICI Direct

Vodafone Idea fund raising - Angel Broking

Rupee - Nov 23, 2020 - Reliance Securities

Crude Oil - Nov 23, 2020 - Reliance Securities

Q2FY21 Bank Result Quick Review - Angel Broking

Banks & NBFC's Sector Update Report - Yet another watershed moment? - HDFC Securities

Galaxy Surfactants - EBITDA/kg has an upside risk - ICICI Securities

Diagnostics - COVID-19 tests continue to trend higher - ICICI Securities

Banking & Financial Services - Sector Update - Nov 22, 2020 - ICICI Direct

Dalmia Bharat Sugar - Q2FY21 Company Update - ICICI Direct

Balkrishna Industries - Industry export growth momentum continues - ICICI Securities

Covid Recovery Pulse - Festive positivity continues in auto retails, E-way bill generation improves... - ICICI Direct

Quant Pick - Exide Industries - ICICI Direct

Shankara Building Products - Q2FY21 Company Update - ICICI Direct

Triveni Engineering - Q2FY21 Company Update - ICICI Direct

Initiating Coverage on Sudarshan Chemical - Leaping into the league of giants - HDFC Securities

Earnings Wrap Q2FY21: Earnings outperform, post Covid recovery picks up steam - ICICI Direct

Vodafone Idea Positive development beneficial for IDFC first bank - Angel Broking

Lakshmi Vilas Bank - Angel Broking

WIPRO Buyback record date announcement - Angel Broking

TCS buyback record date announcement - Angel Broking

Banks Sector Update - Collection efficiency - a positive surprise! - HDFC Securities

Quant Pick - Max Financial Services - ICICI Direct

Graphite India - Q2FY21 Result Update - ICICI Direct

Exide Industries - Q2FY21 Result Update - ICICI Direct

Mishra Dhatu Nigam - Execution outlook remains strong - ICICI Securities

Bharat Electronics - Diversifying into multiple revenue streams - ICICI Securities

Wipro Ltd - Virtual Analyst Meet Update - ICICI Direct

Avadh Sugar & Energy - November 2020 - Company Update - ICICI Direct

Mahindra Lifespace Developers - H1FY21 Company Update - ICICI Direct

Quant Pick - Godrej Consumer Products - ICICI Direct

India Equity Strategy Report - Quarterly flipbook - HDFC Securities

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019