Global research firm Morgan Stanley has maintained an ‘Outperform’ rating on Maruti Suzuki with target of Rs 10,563. The house expects the yen to rise sharply against the US dollar.
The house is of the view that the impact on FY19 earnings per share (EPS) will be moderate, but FY20 EPS is likely to take a hit of 4-8 percent.
NITI Aayog CEO Amitabh Kant, last week that there was no need for a policy for EVs as an action plan has been prepared and technology should not be trapped by rules and regulations.
Replying to this, Maruti Suzuki India (MSI) Chairman RC Bhargava said, “As far as we are concerned, there is no change in our EV programme. We will go ahead with our plans as before.”
Bhargava further said: “The need for electrification (of vehicles) remains and it is for the industry to work out how to do it and if they need support they have to approach the government.”
At 09:50 hrs Maruti Suzuki India was quoting at Rs 8,725.95, up Rs 1.15, or 0.01 percent. It has touched an intraday high of Rs 8,775.20 and an intraday low of Rs 8,722.90.
The company’s trailing 12-month (TTM) EPS was at Rs 249.89 per share. (Dec, 2017). The stock’s price-to-earnings (P/E) ratio was 34.91. The latest book value of the company is Rs 1197.40 per share. At current value, the price-to-book value of the company was 7.29. The dividend yield of the company was 0.86 percent.moneycontrol