Maruti Suzuki remained in focus after the launch of its new SUV and developments in its electric and hybrid vehicle strategy, with brokerages Nomura and Morgan Stanley releasing fresh updates.
Nomura maintained a neutral rating on Maruti with a target price of ₹13,113 per share. The brokerage noted that the company launched its new SUV, Victoris, on September 3. The model is based on the Grand Vitara platform, with bookings now open against a deposit of ₹11,000. The official price announcement, Nomura said, is expected after clarity emerges from the upcoming GST rationalisation decision.
Morgan Stanley, meanwhile, highlighted the start of production of Maruti’s first battery electric vehicle (BEV), the e-Vitara, which is set to be exported to over 100 countries. The brokerage pointed out that the company has achieved 80% localisation in hybrid battery cells, supported by an investment of ₹4,200 crore in partnership with suppliers.
It added that alongside its BEV plans, Maruti has launched its new SUV across multiple powertrain formats — ICE, hybrid and CNG — signalling its strategy to cover a wide spectrum of demand as India transitions to cleaner mobility solutions.
Disclaimer: This article is based on brokerage views as cited. The views expressed are those of the brokerages and do not represent investment advice.