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Investing.com - Investec has raised its price target on Maruti Suzuki India Ltd (NSE:MSIL) to INR18,475.00 from INR13,980.00 while maintaining a Buy rating on the stock.
The significant price target increase reflects Investec’s view that Maruti is well positioned to benefit from an anticipated demand upturn driven by GST rate rationalization and monetary easing measures, particularly given the company’s strong presence in the price-sensitive small car segment.
Investec notes that Maruti’s recent launch of the Victoris model should strengthen the company’s position in the fast-growing mid-size SUV market, where it currently holds a modest share.
The research firm also highlights that the implementation of India’s 8th pay commission from 2026 should benefit Maruti, as approximately 15% of the company’s customer base consists of government employees.
Maruti’s export business is expected to remain robust, supported by healthy demand for SUV models such as the Fronx and Jimny, the ramp-up of E-Vitara production, and the company’s expanding presence across various international markets.
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