Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Research

| More

Gladiator Stocks - Maruti Suzuki India - ICICI Direct

Posted On: 2020-11-19 22:28:16 (Time Zone: Arizona, USA)


Strategy

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: https://www.icicidirect.com/mailimages/IDirect_GladiatorStocks_Maruti_Nov20.pdf

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 feedback@equitybulls.com


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. www.equitybulls.com, 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. www.equitybulls.com 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:

Maintain ADD on Symphony - Domestic in line; RoW improving - HDFC Securities

Maintain ADD on Multi Commodity Exchange - Taking a pause; recovery awaited - HDFC Securities

Maintain ADD on DCB Bank - Provisioning cushion emerges ahead of expectations - HDFC Securities

Maintain BUY on Birla Corporation - Margin buoyancy continues - HDFC Securities

ADD on SRF - Returning to normalcy - HDFC Securities

HDFC Securities - Maintain BUY on UltraTech Cement - Solid show!

Ajanta Pharma (Initiating Coverage) - Gearing for the next leap - HDFC Securities

BUY on SBI Life Insurance - Growth returns - HDFC Securities

Kajaria Ceramics (Initiating Coverage) - Galloping ahead - HDFC Securities

UltraTech Q3 FY21 - YES Securities

HDFC Life Q3 FY21 - YES Securities

SBI Life - Q3 FY21 - YES Securities

Aavas Financiers Q3 FY21 - Conference Call Takeaways - YES Securities

Birla Corp Q3 FY21 - YES Securities

ADD on Reliance Industries - Sailed through the tough times! - HDFC Securities

Grasim Industries - Aspiring for strong no.2 position in paints - ICICI Securities

Kewal Kiran Clothing - Better execution with flat EBITDA YoY - ICICI Securities

Mphasis - DXC will continue to be key in the near term - ICICI Securities

HDFC Securities: Indian Chemical Sector (Sector Update) - Steering well through the pandemic!

UltraTech Cement - Earnings upgrade continues; ripe for rerating - ICICI Securities

Multi Commodity Exchange of India - Lower turnover impacted operating performance - Q3FY21 - ICICI Securities

SBI Life Insurance Company - Strong performance, attractive valuations (<2 FY23 P/EV) - ICICI Securities

Biocon Limited - Slow recovery in biosimilars - ICICI Securities

HDFC Life Insurance Company - Not only - but also - about protection - ICICI Securities

DCB Bank - Gradually approaching normalcy - ICICI Securities

Aurobindo Pharma - Approval for 3 products under PLI Scheme - ICICI Securities

Yes Bank - Aggravating asset quality fears outweigh operating performance turnaround - ICICI Securities

JSW Steel - Peak margins expected in Q4FY21 - ICICI Securities

Aavas Financiers - Quality intact; premium to sustain - ICICI Securities

Supreme Industries - Q3FY21 First Cut - ICICI Direct

Polycab India Ltd - Q3FY21 First Cut - ICICI Direct

DCB Bank - Q3FY21 First Cut - ICICI Direct

Q3FY21 Result update - Symphony Ltd. - ICICI Direct

Ultratech Cement - Q3FY21 First Cut - ICICI Direct

Oberoi Realty - Q3FY21 First Cut - ICICI Direct

HDFC Life Insurance - Q3FY21 First Cut - ICICI Direct

SRF Limited - Chemical biz's good performance may continue - ICICI Securities

Multi Commodity Exchange of India - Lower turnover impacted operating performance - ICICI Securities

Q3FY21 Company update - Zensar Technologies - ICICI Direct

JSW Steel - Q3FY21 First Cut - ICICI Direct

Q3FY21 Result update - Biocon Ltd - ICICI Direct

Symphony Ltd - Q3FY21 First Cut - ICICI Direct

Crompton Greaves Consumer Electricals - Q3FY21 First Cut - ICICI Direct

Q3FY21 Result update - Bajaj Finserv - ICICI Direct

Q3FY21 Result update - Bajaj Auto - ICICI Direct

Quant Pick - Hero MotoCorp - ICICI Direct

Company update - Cyient Ltd - Q3FY21 - ICICI Direct

Covid Recovery Pulse - Auto retail taper off in new year 2021 - ICICI Direct

Q3FY21 Result update - Asian Paints - ICICI Direct

Company update - Mphasis Ltd - Q3FY21 - ICICI Direct



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

disclaimer copyright © 2005 - 2020