Pending — not yet graded
Upgraded Maruti Suzuki to 'Buy' from 'Hold', raising the price target to ₹16,500, implying over 22% upside. The outlook for the passenger vehicle industry has improved due to resilient demand and easing crude oil/metal prices, which will support margins. Jefferies raised FY27-FY29 EPS estimates by 2-4%, expecting a 16% EPS CAGR from FY26-FY29, noting the stock's attractive valuation at 24x FY27 earnings after underperforming Nifty 50.

Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%

Maruti SuzukiBullishCalled 30 Jun 2026
Verdict:PENDING

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