Maruti Suzuki falls 2% after Deutsche Bank decreases price target
June 12, 2019
Maruti Suzuki India shares dropped 1.6 percent intraday on June 12 after global brokerage house Deutsche Bank maintains its ‘hold’ rating but slashed rate target to Rs 6,325 (from Rs 6,450 earlier), implying 9 percent potential downside from current levels.
At 1101 hours IST, it was demanding at Rs 6,875.60, down Rs 97.40, or 1.40 percent on the BSE.
“Market share drop could trigger further de-rating and margin is likely to continue under pressure,” Deutsche said.
The brokerage more told the company’s model cycle looks to have risen and the competition is getting its act together.