HSBC has maintained its ‘Buy’ rating on Maruti Suzuki with a target price of ₹14,000, indicating a potential upside of up to 10% from the current market price of ₹12,673.00.
The brokerage highlights that India is set to become an export hub for electric vehicles (EVs) for Suzuki and even Toyota, which could provide a strong volume growth opportunity for the company. HSBC has analyzed Suzuki’s top export markets and EV penetration trends, supporting its estimate of 5,000-6,000 EV sales per month as a plausible target.
While HSBC acknowledges that percentage margins for exported EVs could be lower, it believes that in absolute terms, the exports will still contribute positively to Maruti’s financial performance.
Disclaimer: The above stock update is based on brokerage reports and company announcements. Investors are advised to conduct their own research and consult with a financial advisor before making any investment decisions.
