Maruti Suzuki India Ltd. is facing a mixed performance in the stock market. The latest share price is ₹12,537.85, reflecting a decrease of ₹238.80 from its previous closing. This decline comes amid fluctuating market conditions and varying sales figures across different vehicle categories.
Main Points
- Latest Share Price: ₹12,537.85
- Price Change: Down by ₹238.80
- 52-Week Range: High of ₹13,680.00 and a low of ₹9,737.65
- Market Capitalization: Approximately ₹397,651.66 crore
- P/E Ratio: 27.08, compared to the sector average of 32.91
Maruti Suzuki’s stock has shown significant volatility recently. The stock reached a high of ₹12,980.00 and a low of ₹12,725.00 within the last trading session. The trading volume was recorded at 274,243 shares.
Financial Highlights
In its latest quarterly report for the period ending March 31, 2024, Maruti Suzuki reported a standalone net profit of ₹3,878 crore, marking a 48% increase from the previous year’s profit of ₹2,624 crore. This performance exceeded analysts’ expectations and reflects the company’s strong operational efficiency and cost management strategies.
- Total Revenue: ₹1,40,933 crore for FY24, up 20% YoY.
- Domestic Sales: 5,05,291 units sold domestically in Q4FY24, a 12% increase YoY.
- Exports: Increased by 22% YoY to 78,740 units.
The company also announced a final dividend of ₹125 per share for FY24.
Analysts are cautiously optimistic about Maruti Suzuki’s future price performance. The stock has shown resilience over the past year with a return of 22.71% over the last year and 65.91% over three years. However, recent bearish signals from technical indicators suggest potential short-term challenges.
Important Levels
Key support and resistance levels are crucial for investors:
- Resistance Levels: The immediate resistance is at around ₹12,800.
- Support Levels: Support is expected near ₹12,500.
A recent crossover in moving averages indicates potential bearish trends in the short term; specifically:
- A 10-day EMA crossover appeared on October 11, suggesting a potential decline.
- Historical data shows an average price decline of approximately -2.31% within seven days following similar bearish signals.
Market News and Trends
Maruti Suzuki continues to face competition from other automakers like Tata Motors and Mahindra & Mahindra. Despite being the largest car manufacturer in India, it has been slow to enter the electric vehicle (EV) market. The company’s first EV is anticipated to launch in 2024.
Recent reports indicate that auto companies are ramping up discounts to stimulate demand amid changing consumer preferences and economic conditions. This could impact Maruti’s pricing strategy moving forward.
Maruti Suzuki remains a key player in India’s automotive sector despite facing challenges such as fluctuating sales and increased competition. Investors are advised to monitor technical indicators closely while considering both short-term fluctuations and long-term growth potential.
