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Maruti Suzuki stock hits fresh lifetime high, rises 72% in 2017

At 10:09 am, the stock was trading at 9193 level, up 0.82% or 75 points. Earlier, it hit a lifetime high of 9237, a rise of 120 points from its previous close.  The stock has been the darling of investors since the beginning of this year, rising 72% or 3867 points.

twitter-logo BusinessToday.in        Last Updated: December 15, 2017  | 16:28 IST
Maruti Suzuki stocks hits fresh lifetime high in morning trade

The Maruti Suzuki stock hit a fresh lifetime high on Friday amid a rally in market on exit polls predicting BJP win in Gujarat and Himachal Pradesh.

At 10:09 am, the stock was trading at 9193 level, up 0.82% or 75 points. Earlier, it hit a lifetime high of 9237, a rise of 120 points from its previous close.   

It closed 0.51 percent or 46 points higher at 9164 on the BSE.

The stock has been the darling of investors since the beginning of this year, rising 72% or 3867 points.

Also read: Why Maruti Suzuki is among key stocks to watch out for in 2018

On an yearly basis, the stock is up 78 percent or 4,047 points on the BSE.

The company has a market capitalisation of Rs 2.78 trillion.

The stock opened at 9170 level and hit an intra day low of 9170.

Meanwhile HDFC Securities has given a price target of 9,525 for the stock over a period of 12 months

"We remain positive on MSIL's growth story, on the back of (1) Consistent volume uptick of Ciaz, Brezza, New Dzire and Baleno, (2) Increasing ASP, led by an expanding portfolio in the premium segment, (3) Incremental volumes from the Gujarat facility, (4) A ramp-up in rural demand, and (5) Macro tailwinds like low interest rates, urbanisation and a burgeoning middle class," the HDFC Securities report said.

It is trading at an all-time high (26x FY19e and 22x FY20e EPS), which seems expensive, the report said.

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