Latest News
-
Mandatory Testing for Indian Spices Destined for Singapore, Hong Kong After Ban -
TRAI Advocates for Enhanced Telecom Infrastructure Sharing Among Licensees -
LTIMindtree Reports Slight Q4 Profit Dip, Optimistic About Upcoming Growth -
Axis Bank Announces Q4 Net Profit at Rs 7,599 Crore Amid Deposit Accretion Worries -
hBits Expands to Pune with CyberCity Magarpatta Acquisition, Eyes Investment Opportunities -
India's First Green Hydrogen Pilot Project Goes Live at Nathpa Jhakri -
DCB Bank Q4 Results: PAT Grew 9% To Rs 156 Cr, NII Jumps 4.5%; Dividend Declared -
RBI Halts New Customer Onboarding at Kotak Mahindra Bank Over IT Compliance -
Macrotech Developers' Annual Profit Triples Despite Q4 Dip -
DoT Engages TRAI for Equitable Satcom Spectrum Allocation Guidelines
Maruti Suzuki Stock Hits Rs. 10,000 For First Time
Morgan Stanley is of the view that MSIL's end- market opportunity as well as higher RoCE is supporting valuation.
The shares of Maruti Suzuki have hit a fresh high of exact Rs. 10000 in intraday trade today on the BSE riding by 2% in early trade. For the first time ever the auto-giant has breached the 10000 mark. On the NSE, the scrip touched an intraday high of Rs. 9996.4.
So far since January this year, the scrip has returned over 85% gains and at the current market price commands a market capitalisation of 2.99 lakh crore. On the back of sharp rally in the stock price of Maruti Suzuki, the company got ahead of SBI earlier this month in respect of market cap and became the sixth most valued brand in India.
Most of the global brokerages even at the current high valuation recommend a buy strategy for the scrip. Morgan Stanley has upped its target price and in case of bull run sees the stock to hit levels of Rs. 14,400. The company is of the view that MSIL's end- market opportunity as well as higher RoCE is supporting valuation.
At 11:55 am, the stock was trading with 0.91% gains at Rs. 9893.55
Goodreturns.in
