INSUBCONTINENT EXCLUSIVE:
Brokerages have cut earnings estimates for Maruti Suzuki (India) by 3-13 per cent for the ongoing financial year after the auto maker
of cars in India keep us constructive on MSIL in the long term
fourth quarter reflects concern over a weakening revenue profile in a subdued demand and competitive environment.
Nomura believes that
costs.
CLSA has also cut EPS estimates for FY20 by 3 per cent but it has maintained buy rating on the stock
While CLSA is cautious on Indian auto space, but it is bullish on Maruti given its solid franchise, benign competition and good longterm
growth outlook.
Bloomberg data shows that 36 of 55 analysts tracking the stock have a buy rating on it, while 11 have hold rating and eight
analysts have a sell rating
The stock ended down 1 per cent at Rs 6,832.15 on Friday.
