Good Morning readers, market today opened on a soft note, in the morning bell market showing some strengths. Both the benchmarks Nifty and Sensex opened on a good note supported by the stocks like Maruti, DLF, Ranbaxy etc. Maruti stock is continuing with its uptrend. Last week on Friday it closed at day's high and on the Monday morning also it is going with the same pace.
The trade is likely to turn rangebound ahead of the Reserve Bank of India's policy meet.
Maruti Suzuki Stock Recommendations :-
We expect the Maruti’s margin to improve in Q4FY2013 on back of currency benefits due to the yen’s depreciation. We are raising our FY2013 EPS estimate by 1% to Rs 66.1/share to factor the currency benefits. Our FY2014 and FY2015 EPS estimates remain unchanged at Rs 97 and Rs 120.6 respectively.
We maintain Buy recommendation on the stock with a price target of Rs 1,809.