Maruti Suzuki gains over 1% ahead of its Q4 results today

Maruti Suzuki shares notched higher by over 1 per cent to day's high price of Rs 13,048.9 as the company is set to announce its March quarter results today. 

Analysts expect the automobile giant, whose popular passenger cars include Wagon R, Dzire, Swift, Baleno and Brezza, to stage a strong quarterly performance riding on the back of strong volumes and better realisations.

According to Zee Business research, Maruti Suzuki India is estimated to register a standalone net profit of Rs 3,950 crore for the January-March period, which translates into a jump of 50.5 per cent compared with the corresponding period a year ago. The analysts expect the auto giant to clock 20.8 per cent growth in fourth-quarter revenue to Rs 38,700 crore. 

At around 11:01 am, shares of the company traded higher by 0.34 per cent at Rs 12,949.35, a 0.34 per cent increase over the close.

InCred Equities in its Auto Q4 preview report noted that currency fluctuations shall augur well for the company's imports. Also, it noted that quarter-on-quarter EBIT will be weak for the auto major.

In the March ended quarter FII holding in the stock decreased from 20.6 to 19.64 per cent, while promoter stake remained unchanged.

The shares of Maruti Suzuki have over a one-year period gained 52 per cent.

KR Choksey in a bullish call has suggested a target price of Rs 14,975 per share on the stock, signifying an over 16 per cent potential upside in the stock.