Maruti Suzuki Share Price Today At 52-Week High! As GST Buzz Fuels Auto Stock Rally, What Next For Investors?

Maruti Suzuki Share Price Today: The auto bellwether stock, Maruti Suzuki, surged to its 52-week high mark on Tuesday, September 23, as optimism around Goods and Services Tax (GST) rate cut fuelled the auto stocks' rally today.

The next gen GST rate cut, came into effect on Monday, has significantly reduced the prices of cars, two-wheelers, and other vehicles. The GST rate cut is expected to boost the auto sales in the festive season, experts have remained bullish on top auto sector stocks like Maruti Suzuki.

Maruti Suzuki Share Price Hits 52-Week High Mark

Maruti Suzuki shares opened strongly on Tuesday, despite overall dull performance of the Indian stock market today. Maruti Suzuki shares opened at Rs 16130.05 per share. The auto titan continued to rally and touched its 52-week high mark of Rs 16,321 per share on BSE in the first hour of the stock market opening today.

Maruti Suzuki shares were trading 2.16% higher at Rs 16,150 per share on BSE with a market capitalisation of Rs 5,07,760.16 crore at 10:30 am. The stock has a Return on Equity (RoE) of 16.05%.

Maruti Suzuki Share Price Hits 52-Week High: What's Next For Investors?

While the auto stock has touched its 52-week high mark, brokerages and experts believe that Maruti Suzuki share price will continue to rally in the coming months. Strong business growth outlook, boost in sales due to festive season demand, GST rate cut and other factors are likely to fuel the Maruti Suzuki share price movement in long-run.

"High demand elasticity and car demand recovery from GST rate cut will be best captured by Maruti Suzuki, leading to market share gains and pricing power," noted Incred Equities in its report.

Maruti Suzuki Share Price Recommendation, Target Price

Incred Equities and Motilal Oswal have given a buy rating for the stock in long-run. Incred Equities has fixed a target price of Rs 17,677 per share. Motilal Oswal has fixed a target price of Rs 17890 per share for Maruti Suzuki stock.

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