Maruti Suzuki India Ltd

NSE :MARUTI   BSE :532500  Sector : Automobile

About Company: The Company was established in 1981. A joint venture agreement was signed between the Government of India and Suzuki Motor Corporation (SMC), Japan in 1982. The Company became a subsidiary of SMC in 2002.It is the market leader in passenger vehicle segment in India. In terms of production volume and sales, the Company is now SMC’s largest subsidiary. SMC currently holds 56.28% of its equity stake.
The principal activities of the Company are manufacturing, purchase and sale of motor vehicles, components and spare parts.

News in Stock: The Nifty Auto index soared 3 per cent and outpaced the gains of even the trendsetting realty index, a feat that would have been improbable last week. The gains were led by big boys Maruti Suzuki India, Mahindra & Mahindra, and Tata Motors.

Technical Outlook of Maruti:

Stock today in Monday trading session on 27-Sept-21 soared 6.5%. Rally was seen in the overall auto sector amid festival season pick up in sales. Technically stock has gained momentum after long consolidation and today broke trend line resistance on the upside. Stock Closed Fibonacci 0.5% level which is assumed to be one of the crucial levels.

We recommend to accumulate stock for short term (3-6 months) at current levels for the targets of 7595 and 7920, stock is bearish only below 7138 level.