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MARUTI SUZUKI INDIA LIMITED (MSIL)
RECOMMENDATION: BUY
TARGET PRICE: RS.3404 FY16E P/E: 16.5X
Domestic passenger car demand is expected to do well over the next 2-3
years driven by expected revival in the economy. MSIL being the market
leader will benefit from expected strong surge in demand. Recovery in entry
level car segment and new products will be the key volume growth driver
for the company over the next two years. Operating margins will receive
support from reduction in discounting and positive operating leverage. We
expect MSIL earnings to grow by 40% CAGR between FY14-FY16E. We revise
our estimates upwards and raise our target price on the stock to Rs3,404
(earlier Rs2,951). We retain our BUY rating on MSIL.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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MARUTI SUZUKI INDIA LIMITED (MSIL)
RECOMMENDATION: BUY
TARGET PRICE: RS.3404 FY16E P/E: 16.5X
Domestic passenger car demand is expected to do well over the next 2-3
years driven by expected revival in the economy. MSIL being the market
leader will benefit from expected strong surge in demand. Recovery in entry
level car segment and new products will be the key volume growth driver
for the company over the next two years. Operating margins will receive
support from reduction in discounting and positive operating leverage. We
expect MSIL earnings to grow by 40% CAGR between FY14-FY16E. We revise
our estimates upwards and raise our target price on the stock to Rs3,404
(earlier Rs2,951). We retain our BUY rating on MSIL.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
LINK
http://www.kotaksecurities.com/pdf/dmb/MorningInsight16092014ko.pdf
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