Momentum Pick: Maruti Suzuki may give Rs 1,300 per share gains. Here’s how

Maruti Suzuki India stock is in a strong uptrend with a potential upside of around 14%, or over Rs 1,300 per share, based on the current chart structure and robust fundamentals. Prabhudas Lilladher remains positive on the growth prospects of MSIL as the automaker gained market share and increased ASP filling white spaces in UV portfolio. The brokerage firm reiterated its buy stance on Maruti Suzuki shares with a revised target price of Rs 10,300. Despite cutting FY24/25 EPS estimates, the medium to long-term prospects remain strong for the counter, with the potential to become a multibagger over the next 4-5 years.

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