Emkay Global maintains hold on Maruti Suzuki, target price Rs 5,900
Hold Maruti Suzuki India Ltd. at a price target of Rs 5900.0 .
For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 18738.80 crore, down -9.65 % from last quarter sales of Rs 20740.70 crore and down -14.10 % from last year same quarter sales of Rs 21813.80 crore. The company has reported net profit after tax of Rs 1363.40 crore in the latest quarter.
Festive season demand is expected to remain weak, with 15-25% volume decline for Maruti, said the brokerage. Demand during Ganesh Chaturthi festival has been muted for the first time. The growing acceptance of shared mobility has not impacted PV ownership pattern significantly and there is a marginal impact on new car demand of 2-3% of volumes, added the brokerage.