Maruti Suzuki Stock On Fire! Auto Titan Gets Massive Upgrade From Goldman Sachs, Check Target Price

Maruti Suzuki Share Price Today: Defying the weak market sentiment on Wednesday, September 24, Maruti Suzuki share price today continued to trade in green. Strong performance by the auto stock is driven by bullish stance of brokerage firms on Maruti Suzuki, citing its robust growth.

Goldman Sachs on Wednesday upgraded its stance on Maruti Suzuki and indicated a massive 37% upside in its share price value in coming months, reported CNBC TV 18. Goldman Sachs has given a 'Buy' rating on the stock from 'neutral'.

The brokerage has underlined the positive impact of Goods and Services Tax (GST) rate cut, price changes, boost in festive season demand as some of the key reasons behind Maruti Suzuki's share price outlook. Maruti Suzuki has emerged as one of the largest car sellers in the first two days of the beginning of the festive season sale. The auto giant witnessed its strongest start to Navratri in the last thirty years as it delivered around 30,000 cars on the first day. The company has received nearly 85,000 enquiries for cars.

Additionally, launch of new models, and favourable exposure to 8th Pay Commission in the auto demand cycle, are other factors to favour the car sales in coming months. Not just Goldman Sachs, other experts have also highlighted Maruti Suzuki's favourable position to get the benefit of current scenario.

"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 By Goldman Sachs

Maruti Suzuki received a 'buy' recommendation from Goldman Sachs. The brokerage has fixed a target price of Rs 18,900 for the stock, reported CNBC TV 18. With the recent upgrade, Goldman Sachs has joined the list of brokerages which are now bullish on Maruti Suzuki's rally in coming months.

Maruti Suzuki Target Price By Different Brokerages

Maruti Suzuki shares opened in green on Wednesday. The stock was trading 0.83% higher at Rs 16,232 per share on BSE at 9:43 am with a market capitalisation of Rs 5,10,339.83 crore.

Brokerage	Target Price (Rs)
Motilal Oswal	17,890
Goldman Sachs	18,900
Incred Equities	17,677

Maruti Suzuki Share Price Trend

The stock is trading in green on Wednesday. It has a Return on Equity (RoE) of 16.05%. The stock reached its 52-week high of Rs 16,321 per share on September 23, 2025. The stock dipped to its 52-week low of Rs 10,725 per share on December 24, 2025. The stock valuation has increased by around 44% since the beginning of the year 2025 (year to date). Its valuation has increased by around 28.87% in three months.

"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.