Maruti Suzuki India Ltd shares climbed over 2% this morning, reaching ₹11,465, fueled by robust December 2024 sales volumes and positive commentary from Citi. The brokerage reaffirmed its ‘Buy’ rating on the stock, setting a target price of ₹13,500, reflecting a potential upside of 20.71% from the current market price.
Strong December Performance:
- Domestic Sales: Maruti’s domestic volumes, including Toyota sales, increased by 27% YoY but dipped 8% MoM, indicating steady annual demand.
- Export Sales: Export volumes surged 39% YoY and 31% MoM, showcasing strong traction in global markets.
- Overall Growth: Total December volumes rose 30% YoY but showed a marginal 2% MoM decline, pointing to sustained demand despite seasonal softness.
Maruti Suzuki Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Wed, Jan 1 2025
|
₹10,858.00
|
₹11,208.30
|
|
|
Tue, Dec 31 2024
|
₹10,765.00
|
₹10,858.40
|
|
|
Mon, Dec 30 2024
|
₹10,941.05
|
₹10,798.95
|
-1.30%
|
|
Fri, Dec 27 2024
|
₹10,929.50
|
₹10,941.05
|
|
|
Thu, Dec 26 2024
|
₹10,770.50
|
₹10,896.00
|
|
|
Tue, Dec 24 2024
|
₹10,822.00
|
₹10,736.60
|
-0.79%
|
|
Mon, Dec 23 2024
|
₹10,928.00
|
₹10,822.00
|
-0.73%
|
|
Fri, Dec 20 2024
|
₹10,940.00
|
₹10,901.05
|
-0.50%
|
Citi’s Positive Outlook:
Citi emphasized Maruti’s effective demand management and channel alignment, highlighting no significant inventory buildup. This underpins its confidence in the company’s growth trajectory.
Key Commentary Highlights:
- Partho Banerjee of Maruti Suzuki stated to CNBC-TV18 that all product segments performed well in December.
- He noted that dealer stock stands at just nine days, with over 2 lakh pending bookings.
- Maruti is set to unveil its EV ecosystem at the Bharat Mobility Global Expo, indicating its technology-agnostic strategy to retain market leadership.
